The Coca-Cola Company (NYSE:KO) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB decreased its position in The Coca-Cola Company (NYSE:KO - Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 177,740 shares of the company's stock after selling 6,600 shares during the period. E. Ohman J or Asset Management AB's holdings in Coca-Cola were worth $12,730,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in KO. Riverview Trust Co increased its holdings in Coca-Cola by 31.3% during the 1st quarter. Riverview Trust Co now owns 2,265 shares of the company's stock valued at $162,000 after acquiring an additional 540 shares in the last quarter. MRA Advisory Group grew its position in shares of Coca-Cola by 24.8% in the first quarter. MRA Advisory Group now owns 6,299 shares of the company's stock valued at $451,000 after purchasing an additional 1,253 shares during the last quarter. Ullmann Wealth Partners Group LLC grew its position in shares of Coca-Cola by 5.8% in the first quarter. Ullmann Wealth Partners Group LLC now owns 14,626 shares of the company's stock valued at $1,047,000 after purchasing an additional 801 shares during the last quarter. Foster Group Inc. increased its stake in shares of Coca-Cola by 28.6% during the 1st quarter. Foster Group Inc. now owns 6,370 shares of the company's stock worth $456,000 after purchasing an additional 1,416 shares in the last quarter. Finally, AMI Investment Management Inc. acquired a new position in shares of Coca-Cola during the 1st quarter worth approximately $216,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Coca-Cola Stock Down 0.7%

Shares of KO opened at $70.89 on Friday. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company's fifty day moving average is $71.40 and its two-hundred day moving average is $67.51. The firm has a market cap of $305.11 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.23 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The firm's revenue for the quarter was down .7% compared to the same quarter last year. Analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is presently 81.60%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank of Canada raised their price target on Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Barclays reaffirmed an "overweight" rating on shares of Coca-Cola in a research note on Thursday, March 27th. Morgan Stanley boosted their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, Piper Sandler lifted their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $75.81.

Insider Activity at Coca-Cola

In related news, COO Henrique Braun sold 25,277 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the sale, the chief operating officer now directly owns 52,466 shares of the company's stock, valued at approximately $3,749,745.02. This trade represents a 32.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 266,403 shares of Coca-Cola stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer now directly owns 275,946 shares in the company, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 440,664 shares of company stock worth $31,730,532. Company insiders own 0.97% of the company's stock.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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