The Coca-Cola Company (NYSE:KO) Shares Sold by BayBridge Capital Group LLC

BayBridge Capital Group LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 59.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,341 shares of the company's stock after selling 13,609 shares during the quarter. BayBridge Capital Group LLC's holdings in Coca-Cola were worth $669,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Crowley Wealth Management Inc. acquired a new position in Coca-Cola in the 4th quarter valued at $27,000. Mainstream Capital Management LLC acquired a new position in Coca-Cola in the 4th quarter valued at $31,000. REAP Financial Group LLC raised its stake in Coca-Cola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after purchasing an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Coca-Cola in the 4th quarter valued at $38,000. Finally, Hoey Investments Inc. raised its stake in Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company's stock valued at $38,000 after purchasing an additional 181 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Trading Down 1.8%

Shares of NYSE KO traded down $1.30 during mid-day trading on Friday, reaching $70.94. 17,424,785 shares of the company's stock were exchanged, compared to its average volume of 15,884,646. The firm has a market capitalization of $305.36 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 3.79 and a beta of 0.46. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company's 50-day moving average is $71.56 and its 200-day moving average is $67.87.

Coca-Cola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 EPS 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 company had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. During the same period last year, the business posted $0.72 EPS. Coca-Cola's revenue for the quarter was down .7% on a year-over-year basis. Analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued 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 of this dividend is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is 81.60%.

Analyst Ratings Changes

KO has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. UBS Group upped their target price on Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Piper Sandler upped their target price on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Cfra Research upgraded Coca-Cola to a "strong-buy" rating in a report on Tuesday, April 15th. Finally, Royal Bank of Canada upped their target price on Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Coca-Cola has an average rating of "Buy" and an average target price of $76.00.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the sale, the executive vice president now owns 187,716 shares of the company's stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the sale, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock worth $29,923,985 in the last three months. 0.97% of the stock is owned by company insiders.

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.