Avanza Fonder AB Has $25.56 Million Stake in The Coca-Cola Company (NYSE:KO)

Avanza Fonder AB lowered its position in The Coca-Cola Company (NYSE:KO) by 11.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 358,374 shares of the company’s stock after selling 46,260 shares during the period. Coca-Cola accounts for 0.8% of Avanza Fonder AB’s portfolio, making the stock its 17th largest holding. Avanza Fonder AB’s holdings in Coca-Cola were worth $25,563,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. acquired a new position in Coca-Cola in the fourth quarter worth approximately $27,000. Mainstream Capital Management LLC acquired a new position in Coca-Cola in the fourth quarter worth approximately $31,000. REAP Financial Group LLC increased its holdings in Coca-Cola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after buying an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Coca-Cola in the fourth quarter worth approximately $38,000. Finally, Hoey Investments Inc. increased its holdings in Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after buying an additional 181 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on KO. Evercore ISI increased their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Morgan Stanley restated an “overweight” rating and issued a $81.00 price objective on shares of Coca-Cola in a report on Monday. Wells Fargo & Company increased their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. UBS Group upped 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. Finally, DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $76.00.

Insider Activity

In related news, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction 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 now directly owns 187,716 shares of the company’s stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer now directly owns 275,946 shares of the company’s stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Up 0.6%

KO opened at $71.76 on Tuesday. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $308.89 billion, a price-to-earnings ratio of 29.05, a P/E/G ratio of 3.79 and a beta of 0.46. The business has a 50 day moving average of $71.39 and a 200-day moving average of $67.68.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $11.23 billion. During the same period in the prior year, the business earned $0.72 earnings per share. Coca-Cola’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.84%. Coca-Cola’s dividend payout ratio is 81.60%.

Coca-Cola 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.