Schonfeld Strategic Advisors LLC Lowers Position in The Coca-Cola Company (NYSE:KO)

Schonfeld Strategic Advisors LLC reduced its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 39.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,631 shares of the company's stock after selling 18,441 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Coca-Cola were worth $1,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Crowley Wealth Management Inc. bought a new stake in Coca-Cola during the fourth quarter worth $27,000. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola during the 4th quarter worth $31,000. Murphy & Mullick Capital Management Corp acquired a new stake in Coca-Cola in the fourth quarter valued at about $38,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola in the fourth quarter valued at about $37,000. Finally, Hoey Investments Inc. raised its stake in Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company's stock worth $38,000 after acquiring an additional 181 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Activity

In related news, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company's stock, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lisa Chang sold 13,445 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the sale, the executive vice president now owns 94,676 shares of the company's stock, valued at $6,769,334. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 313,423 shares of company stock worth $22,263,071. Company insiders own 0.97% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KO. TD Cowen raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Wells Fargo & Company boosted their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. increased their price target 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 boosted their price objective on Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Finally, Piper Sandler upped their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $75.59.

Coca-Cola Trading Up 1.0 %

Shares of KO traded up $0.70 during trading hours on Wednesday, hitting $72.42. 15,017,468 shares of the stock were exchanged, compared to its average volume of 15,440,373. The firm has a market capitalization of $311.66 billion, a P/E ratio of 29.32, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The business has a 50-day moving average of $70.94 and a 200-day moving average of $66.59.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (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 for the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the previous year, the business earned $0.72 EPS. The firm's revenue was down .7% compared to the same quarter last year. On average, research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is currently 81.60%.

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.