Tobam Decreases Stake in The Coca-Cola Company (NYSE:KO)

Tobam decreased its position in The Coca-Cola Company (NYSE:KO - Free Report) by 71.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,662 shares of the company's stock after selling 6,606 shares during the quarter. Tobam's holdings in Coca-Cola were worth $191,000 at the end of the most recent reporting period.

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

Coca-Cola Trading Down 1.8%

Shares of KO traded down $1.30 during mid-day trading on Friday, hitting $70.94. 17,424,785 shares of the company's stock traded hands, compared to its average volume of 15,884,646. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a market capitalization of $305.36 billion, a P/E ratio of 28.72, a PEG ratio of 3.79 and a beta of 0.46. The business's 50-day moving average price is $71.56 and its 200-day moving average price is $67.87.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The firm's revenue was down .7% on a year-over-year basis. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. Coca-Cola's dividend payout ratio is presently 81.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the business's stock in a transaction on 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 directly owns 187,716 shares of the company's stock, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John Murphy sold 88,658 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was 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 trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 over the last ninety days. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

KO has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price target on shares of Coca-Cola in a research note on Monday, June 9th. UBS Group raised their price target on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Piper Sandler raised their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Finally, Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Coca-Cola currently has an average rating of "Buy" and an average price target of $76.00.

About Coca-Cola

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.