CocaCola Company (The) (NYSE:KO) Holdings Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of CocaCola Company (The) (NYSE:KO) by 1.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,027,898 shares of the company’s stock after selling 491,371 shares during the period. Bank of New York Mellon Corp owned about 0.58% of CocaCola worth $1,792,498,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in KO. Norges Bank acquired a new position in shares of CocaCola in the 4th quarter valued at $3,402,151,000. Capital International Investors boosted its stake in CocaCola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares during the period. Franklin Resources Inc. boosted its position in shares of CocaCola by 21.9% in the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after buying an additional 6,118,819 shares during the period. GAMMA Investing LLC boosted its position in CocaCola by 8,419.4% during the 1st quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company’s stock worth $426,927,000 after acquiring an additional 5,891,034 shares during the period. Finally, Capital Research Global Investors boosted its holdings in shares of CocaCola by 119.0% during the fourth quarter. Capital Research Global Investors now owns 9,458,248 shares of the company’s stock worth $588,871,000 after purchasing an additional 5,139,352 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president directly owned 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the transaction, the chief executive officer owned 275,946 shares of the company’s stock, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock valued at $29,923,985 over the last three months. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on KO shares. JPMorgan Chase & Co. lifted their target price on shares of CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Barclays reiterated an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. Morgan Stanley reiterated an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. UBS Group lifted their price objective on shares of CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Finally, Cfra Research raised CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $76.27.

CocaCola Trading Up 0.4%

KO opened at $71.19 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $306.42 billion, a PE ratio of 28.48, a PEG ratio of 3.74 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 firm has a 50-day moving average price of $71.08 and a two-hundred day moving average price of $68.56.

CocaCola (NYSE:KO) last released its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate 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%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the firm earned $0.72 EPS. As a group, equities analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Friday, June 13th. CocaCola’s dividend payout ratio is presently 81.60%.

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.