Burns Matteson Capital Management LLC Sells 196 Shares of CocaCola Company (The) (NYSE:KO)

Burns Matteson Capital Management LLC lessened its position in shares of CocaCola Company (The) (NYSE:KO) by 4.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,768 shares of the company’s stock after selling 196 shares during the period. Burns Matteson Capital Management LLC’s holdings in CocaCola were worth $270,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MorganRosel Wealth Management LLC acquired a new position in shares of CocaCola during the first quarter valued at about $25,000. Crowley Wealth Management Inc. purchased a new position in CocaCola during the fourth quarter worth about $27,000. Garde Capital Inc. purchased a new position in CocaCola during the first quarter worth about $30,000. Mizuho Securities Co. Ltd. boosted its holdings in CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 360 shares during the last quarter. Finally, REAP Financial Group LLC boosted its holdings in CocaCola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after purchasing an additional 208 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays restated an “overweight” rating on shares of CocaCola in a report on Thursday, March 27th. Cfra Research upgraded shares of CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. Morgan Stanley reiterated an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Royal Bank Of Canada boosted their price target on shares of CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Finally, UBS Group upped their target price on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, CocaCola currently has a consensus rating of “Buy” and a consensus price target of $76.71.

Insider Buying and Selling at CocaCola

In related news, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer directly owned 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John Murphy sold 88,658 shares of the business’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 transaction, the chief financial officer owned 205,511 shares of the company’s stock, valued at $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is currently owned by insiders.

CocaCola Stock Performance

KO opened at $70.63 on Friday. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a 50 day simple moving average of $70.73 and a two-hundred day simple moving average of $69.01. 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 market cap of $303.99 billion, a P/E ratio of 28.25, a PEG ratio of 3.63 and a beta of 0.45.

CocaCola (NYSE:KO) last posted its quarterly earnings data 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. The business had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. Equities analysts forecast 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 will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.89%. CocaCola’s payout ratio is 81.60%.

CocaCola 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.