St. Johns Investment Management Company LLC Sells 19,937 Shares of CocaCola Company (The) (NYSE:KO)

St. Johns Investment Management Company LLC trimmed its position in shares of CocaCola Company (The) (NYSE:KO) by 50.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,342 shares of the company’s stock after selling 19,937 shares during the period. St. Johns Investment Management Company LLC’s holdings in CocaCola were worth $1,385,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of KO. Crowley Wealth Management Inc. bought a new stake in shares of CocaCola in the fourth quarter valued at about $27,000. Garde Capital Inc. bought a new stake in shares of CocaCola in the first quarter valued at about $30,000. Mainstream Capital Management LLC bought a new stake in shares of CocaCola in the fourth quarter valued at about $31,000. Mizuho Securities Co. Ltd. lifted its stake in shares of CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 360 shares during the period. Finally, REAP Financial Group LLC lifted its stake in shares of 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 buying an additional 208 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at CocaCola

In other CocaCola news, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president now directly owns 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 266,403 shares of the firm’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 transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer now directly owns 275,946 shares in the company, 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. Insiders sold a total of 415,387 shares of company stock valued at $29,923,985 over the last quarter. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on KO shares. Cfra Research upgraded shares of CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. 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 research note on Monday, April 21st. UBS Group raised their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Barclays restated an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. Finally, 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 research note 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’s stock. Based on data from MarketBeat, CocaCola currently has an average rating of “Buy” and an average target price of $76.00.

CocaCola Stock Performance

NYSE KO opened at $69.77 on Tuesday. The firm has a market cap of $300.31 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 3.61 and a beta of 0.46. The company has a 50 day moving average of $71.45 and a 200-day moving average of $68.16. The company has a current ratio of 1.10, a quick ratio of 0.89 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.

CocaCola (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. The business had revenue of $11.13 billion during 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%. CocaCola’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share. On average, equities analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal 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 issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Friday, June 13th. CocaCola’s dividend payout ratio is currently 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.