Lazard Asset Management LLC Decreases Holdings in The Coca-Cola Company (NYSE:KO)

Lazard Asset Management LLC decreased its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 13.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,883,704 shares of the company's stock after selling 1,388,255 shares during the quarter. Lazard Asset Management LLC owned 0.21% of Coca-Cola worth $553,097,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in KO. Peachtree Investment Partners LLC lifted its stake in Coca-Cola by 1.4% in the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company's stock worth $697,000 after acquiring an additional 157 shares during the period. Fort Sheridan Advisors LLC raised its position in shares of Coca-Cola by 3.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company's stock worth $311,000 after acquiring an additional 161 shares in the last quarter. Excalibur Management Corp lifted its stake in shares of Coca-Cola by 0.6% in the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company's stock valued at $1,831,000 after purchasing an additional 161 shares during the period. Wells Trecaso Financial Group LLC boosted its position in shares of Coca-Cola by 4.8% during the fourth quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company's stock valued at $225,000 after purchasing an additional 164 shares in the last quarter. Finally, Tradition Wealth Management LLC grew its stake in Coca-Cola by 3.0% in the fourth quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company's stock worth $357,000 after purchasing an additional 167 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Coca-Cola Price Performance

Shares of NYSE:KO traded down $0.61 during trading on Tuesday, hitting $68.92. 14,376,361 shares of the company's stock were exchanged, compared to its average volume of 15,556,631. The business's 50-day simple moving average is $70.91 and its 200 day simple moving average is $66.67. The company has a market cap of $296.65 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share. As a group, equities analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The firm 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 $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's dividend payout ratio is presently 81.60%.

Insider Activity at Coca-Cola

In other news, EVP Beatriz R. Perez sold 60,326 shares of Coca-Cola stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president now 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 is accessible through this link. Also, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 462,407 shares of company stock valued at $32,990,056. Insiders own 0.97% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on KO shares. DZ Bank upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price for the company in a report on Thursday, February 13th. Morgan Stanley increased their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Royal Bank of Canada lifted their target price on Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Jefferies Financial Group raised Coca-Cola from a "hold" rating to a "buy" rating and upped their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, UBS Group boosted their target price on Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $75.59.

Coca-Cola 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.