Lee Danner & Bass Inc. Sells 602 Shares of CocaCola Company (The) (NYSE:KO)

Lee Danner & Bass Inc. cut its position in shares of CocaCola Company (The) (NYSE:KO) by 0.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,893 shares of the company’s stock after selling 602 shares during the quarter. Lee Danner & Bass Inc.’s holdings in CocaCola were worth $5,650,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in KO. MorganRosel Wealth Management LLC bought a new stake in shares of CocaCola during the first quarter valued at approximately $25,000. Crowley Wealth Management Inc. bought a new stake in shares of CocaCola during the fourth quarter valued at approximately $27,000. Garde Capital Inc. purchased a new position in CocaCola during the first quarter valued at $30,000. Mizuho Securities Co. Ltd. raised its stake in CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 360 shares during the last quarter. Finally, REAP Financial Group LLC raised its stake in CocaCola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after buying an additional 208 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

CocaCola Trading Up 0.4%

Shares of CocaCola stock opened at $71.19 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. The company’s fifty day simple moving average is $71.08 and its 200-day simple moving average is $68.60. The stock has a market capitalization of $306.42 billion, a PE ratio of 28.48, a P/E/G 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.

CocaCola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business 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 quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 earnings per share. As a group, equities analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

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

Insiders Place Their Bets

In related news, 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 transaction, the chief financial officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 187,716 shares of the company’s stock, valued at $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock worth $29,923,985 over the last quarter. 0.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

CocaCola 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.