Means Investment CO. Inc. Sells 1,500 Shares of CocaCola Company (The) (NYSE:KO)

Means Investment CO. Inc. trimmed its position in CocaCola Company (The) (NYSE:KO) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,384 shares of the company’s stock after selling 1,500 shares during the period. Means Investment CO. Inc.’s holdings in CocaCola were worth $1,245,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of KO. Crowley Wealth Management Inc. acquired a new stake in CocaCola in the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC acquired a new stake in CocaCola in the fourth quarter valued at approximately $31,000. REAP Financial Group LLC boosted its stake in CocaCola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after acquiring an additional 208 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in CocaCola in the fourth quarter valued at approximately $38,000. Finally, Hoey Investments Inc. boosted its stake in CocaCola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after acquiring an additional 181 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CocaCola

In related news, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer now owns 205,511 shares in the company, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the sale, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

CocaCola Trading Down 0.7%

Shares of CocaCola stock opened at $69.15 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 firm has a fifty day moving average price of $71.55 and a 200 day moving average price of $67.99. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The stock has a market cap of $297.63 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 3.63 and a beta of 0.46.

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

CocaCola Announces Dividend

The company 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 dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.95%. CocaCola’s dividend payout ratio is presently 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.