CocaCola Company (The) (NYSE:KO) Stake Cut by Trifecta Capital Advisors LLC

Trifecta Capital Advisors LLC cut its stake in CocaCola Company (The) (NYSE:KO) by 11.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,197 shares of the company’s stock after selling 284 shares during the period. Trifecta Capital Advisors LLC’s holdings in CocaCola were worth $157,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Crowley Wealth Management Inc. acquired a new position in shares of CocaCola during the fourth quarter valued at $27,000. Mainstream Capital Management LLC acquired a new position in shares of CocaCola during the fourth quarter valued at $31,000. REAP Financial Group LLC increased its holdings in shares of 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 purchasing an additional 208 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in shares of CocaCola during the fourth quarter valued at $38,000. Finally, Hoey Investments Inc. increased its holdings in shares of CocaCola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after purchasing an additional 181 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CocaCola

In other CocaCola news, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the sale, the chief executive officer now directly owns 275,946 shares in the company, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 205,511 shares of the company’s stock, valued at $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock worth $29,923,985 in the last quarter. 0.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Piper Sandler raised their price target on CocaCola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Royal Bank Of Canada raised their price target on CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Finally, UBS Group raised their target price on CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Two investment 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’s stock. According to data from MarketBeat.com, CocaCola has a consensus rating of “Buy” and a consensus price target of $76.00.

CocaCola Trading Down 0.7%

NYSE:KO opened at $69.15 on Friday. 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 1-year low of $60.62 and a 1-year high of $74.38. The firm has a market capitalization of $297.63 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 3.63 and a beta of 0.46. The stock has a fifty day simple moving average of $71.55 and a 200 day simple moving average of $67.99.

CocaCola (NYSE:KO) last released 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. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same quarter last year, the company posted $0.72 EPS. CocaCola’s revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.95%. CocaCola’s dividend payout ratio (DPR) is 81.60%.

About CocaCola

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.