Mill Creek Capital Advisors LLC Cuts Position in CocaCola Company (The) $KO

Mill Creek Capital Advisors LLC trimmed its position in CocaCola Company (The) (NYSE:KO) by 16.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,288 shares of the company’s stock after selling 1,048 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in CocaCola were worth $379,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in CocaCola by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock worth $25,869,202,000 after acquiring an additional 1,114,422 shares in the last quarter. Northern Trust Corp lifted its position in CocaCola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock worth $2,727,131,000 after acquiring an additional 3,811,756 shares in the last quarter. Nuveen LLC acquired a new position in CocaCola during the 1st quarter worth approximately $1,508,657,000. Fayez Sarofim & Co lifted its position in CocaCola by 6.7% during the 4th quarter. Fayez Sarofim & Co now owns 18,408,210 shares of the company’s stock worth $1,148,609,000 after acquiring an additional 1,155,538 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in CocaCola by 5.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 16,133,745 shares of the company’s stock worth $1,155,499,000 after acquiring an additional 866,773 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Price Performance

Shares of NYSE KO opened at $69.92 on Monday. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $300.91 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 3.64 and a beta of 0.44. The business has a 50 day simple moving average of $70.02 and a 200-day simple moving average of $70.20.

CocaCola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The business had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same period in the previous year, the business earned $0.84 EPS. The business’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. CocaCola’s payout ratio is currently 72.34%.

Insider Buying and Selling

In related news, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on KO shares. JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. UBS Group dropped their price objective on CocaCola from $86.00 to $84.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. BNP Paribas restated an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Finally, Morgan Stanley restated an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $77.21.

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.