Wayfinding Financial LLC Lowers Stock Position in CocaCola Company (The) (NYSE:KO)

Wayfinding Financial LLC cut its holdings in shares of CocaCola Company (The) (NYSE:KO) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,588 shares of the company’s stock after selling 331 shares during the period. Wayfinding Financial LLC’s holdings in CocaCola were worth $619,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Jackson Thornton Wealth Management LLC purchased a new position in shares of CocaCola during the first quarter worth approximately $623,000. Ceera Investments LLC purchased a new position in shares of CocaCola during the first quarter worth approximately $206,000. Olde Wealth Management LLC acquired a new stake in shares of CocaCola during the first quarter worth $134,000. Capital Investment Advisory Services LLC lifted its holdings in shares of CocaCola by 4.9% during the first quarter. Capital Investment Advisory Services LLC now owns 39,241 shares of the company’s stock worth $2,810,000 after purchasing an additional 1,844 shares during the period. Finally, Columbia River Financial Group LLC acquired a new stake in shares of CocaCola during the first quarter worth $116,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KO. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a report on Thursday, March 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. JPMorgan Chase & Co. increased their price target on CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Cfra Research raised CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. Finally, Royal Bank Of Canada increased their price target on CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, CocaCola presently has a consensus rating of “Buy” and an average target price of $76.27.

Insider Transactions at CocaCola

In related news, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the sale, the chief financial officer owned 205,511 shares in the company, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction dated 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 sale, 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 415,387 shares of company stock valued at $29,923,985 in the last 90 days. 0.97% of the stock is currently owned by insiders.

CocaCola Trading Up 0.4%

NYSE:KO opened at $71.19 on Friday. The company has a market capitalization of $306.42 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 3.74 and a beta of 0.45. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a fifty day simple moving average of $71.08 and a 200-day simple moving average of $68.56.

CocaCola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 EPS. On average, equities research analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, June 13th. CocaCola’s dividend payout ratio (DPR) is presently 81.60%.

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.