The Coca-Cola Company (NYSE:KO) Shares Sold by Oak Asset Management LLC

Oak Asset Management LLC lowered its position in The Coca-Cola Company (NYSE:KO) by 5.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,663 shares of the company’s stock after selling 315 shares during the quarter. Oak Asset Management LLC’s holdings in Coca-Cola were worth $406,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KO. Breakwater Capital Group raised its position in Coca-Cola by 4.6% during the first quarter. Breakwater Capital Group now owns 7,989 shares of the company’s stock worth $572,000 after acquiring an additional 354 shares during the last quarter. Retirement Planning Group LLC lifted its stake in Coca-Cola by 3.0% in the 1st quarter. Retirement Planning Group LLC now owns 12,393 shares of the company’s stock valued at $888,000 after buying an additional 359 shares in the last quarter. Charles Schwab Trust Co lifted its stake in Coca-Cola by 86.2% in the 1st quarter. Charles Schwab Trust Co now owns 5,989 shares of the company’s stock valued at $429,000 after buying an additional 2,773 shares in the last quarter. Salvus Wealth Management LLC increased its position in Coca-Cola by 6.2% during the first quarter. Salvus Wealth Management LLC now owns 4,835 shares of the company’s stock worth $346,000 after buying an additional 284 shares in the last quarter. Finally, Fermata Advisors LLC purchased a new position in Coca-Cola during the first quarter worth $459,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In related news, CFO John Murphy sold 88,658 shares of Coca-Cola 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 of the company’s stock, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction dated 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 now directly owns 275,946 shares of the company’s stock, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 496,164 shares of company stock valued at $35,671,587. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KO. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Thursday, February 13th. UBS Group upped their target price on shares of Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. upped their target price on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Finally, Piper Sandler raised their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Two investment 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 company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $75.81.

Coca-Cola Stock Performance

NYSE:KO opened at $71.39 on Thursday. The firm’s fifty day simple moving average is $71.41 and its 200 day simple moving average is $67.45. 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 Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The firm has a market capitalization of $307.28 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period last year, the company posted $0.72 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. As a group, equities research analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid 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 dividend yield of 2.86%. Coca-Cola’s dividend payout ratio is currently 81.60%.

Coca-Cola 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.