The Coca-Cola Company (NYSE:KO) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 41,518 shares of the company’s stock after selling 2,000 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Coca-Cola were worth $2,974,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new position in Coca-Cola during the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC acquired a new position in Coca-Cola during the 4th quarter worth approximately $31,000. REAP Financial Group LLC lifted its position in Coca-Cola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after acquiring an additional 208 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Coca-Cola during the 4th quarter worth approximately $38,000. Finally, Hoey Investments Inc. lifted its position in Coca-Cola by 41.9% during the 4th 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. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of NYSE KO opened at $70.94 on Friday. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month 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 company has a market capitalization of $305.36 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The business has a 50 day simple moving average of $71.56 and a 200-day simple moving average of $67.84.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share 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 business had revenue of $11.13 billion during 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 business’s quarterly revenue was down .7% on a year-over-year basis. As a group, equities research analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.88%. Coca-Cola’s dividend payout ratio is currently 81.60%.

Insider Activity at Coca-Cola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the business’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 transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. The trade was a 24.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 value of $19,197,000.18. Following the transaction, the chief executive officer now owns 275,946 shares of the company’s stock, valued at $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 worth $29,923,985 in the last 90 days. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on KO shares. Piper Sandler lifted their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Barclays restated an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Cfra Research upgraded Coca-Cola to a “strong-buy” rating in a report on Tuesday, April 15th. Morgan Stanley restated an “overweight” rating and set a $81.00 price objective on shares of Coca-Cola in a report on Monday, June 9th. Finally, Royal Bank of Canada lifted their price objective on Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Coca-Cola currently has an average rating of “Buy” and an average target price of $76.00.

About Coca-Cola

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.