Twin Capital Management Inc. Boosts Stake in CocaCola Company (The) (NYSE:KO)

Twin Capital Management Inc. lifted its position in CocaCola Company (The) (NYSE:KO - Free Report) by 10.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 95,771 shares of the company's stock after acquiring an additional 9,110 shares during the period. CocaCola accounts for about 0.8% of Twin Capital Management Inc.'s investment portfolio, making the stock its 19th largest holding. Twin Capital Management Inc.'s holdings in CocaCola were worth $6,859,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in KO. Deseret Mutual Benefit Administrators boosted its stake in shares of CocaCola by 0.7% in the first quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock worth $1,439,000 after acquiring an additional 143 shares during the last quarter. MBA Advisors LLC lifted its holdings in CocaCola by 1.2% in the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock valued at $891,000 after purchasing an additional 143 shares in the last quarter. BXM Wealth LLC boosted its stake in CocaCola by 4.3% during the 1st quarter. BXM Wealth LLC now owns 3,532 shares of the company's stock worth $253,000 after purchasing an additional 144 shares during the last quarter. MTM Investment Management LLC boosted its stake in CocaCola by 0.3% during the 1st quarter. MTM Investment Management LLC now owns 50,612 shares of the company's stock worth $3,637,000 after purchasing an additional 144 shares during the last quarter. Finally, Navis Wealth Advisors LLC grew its holdings in shares of CocaCola by 4.2% during the first quarter. Navis Wealth Advisors LLC now owns 3,594 shares of the company's stock worth $257,000 after buying an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insiders Place Their Bets

In other news, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction dated 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 owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John Murphy sold 88,658 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer owned 205,511 shares of the company's stock, valued at approximately $14,815,287.99. The trade was 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 90 days. Corporate insiders own 0.97% of the company's stock.

CocaCola Price Performance

Shares of KO opened at $69.88 on Friday. The firm has a 50-day simple moving average of $70.71 and a two-hundred day simple moving average of $69.11. The stock has a market cap of $300.78 billion, a PE ratio of 27.95, a P/E/G ratio of 3.66 and a beta of 0.45. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89.

CocaCola (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. The company had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. CocaCola's revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. As a group, analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 2.92%. CocaCola's dividend payout ratio is currently 81.60%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KO shares. JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Cfra Research upgraded CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. UBS Group increased their price target on CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Royal Bank Of Canada boosted their price objective on CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley restated an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $76.71.

CocaCola 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.