Gulf International Bank UK Ltd Sells 85,633 Shares of CocaCola Company (The) (NYSE:KO)

Gulf International Bank UK Ltd reduced its holdings in CocaCola Company (The) (NYSE:KO) by 26.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 234,516 shares of the company’s stock after selling 85,633 shares during the quarter. CocaCola comprises 0.6% of Gulf International Bank UK Ltd’s investment portfolio, making the stock its 24th largest position. Gulf International Bank UK Ltd’s holdings in CocaCola were worth $16,796,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in KO. New Republic Capital LLC lifted its stake in shares of CocaCola by 1.6% in the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company’s stock valued at $625,000 after purchasing an additional 139 shares during the period. Alteri Wealth LLC lifted its stake in shares of CocaCola by 2.1% in the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company’s stock valued at $492,000 after purchasing an additional 140 shares during the period. Deseret Mutual Benefit Administrators lifted its stake in shares of CocaCola by 0.7% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company’s stock valued at $1,439,000 after purchasing an additional 143 shares during the period. MBA Advisors LLC lifted its stake in shares of CocaCola by 1.2% in the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company’s stock valued at $891,000 after purchasing an additional 143 shares during the period. Finally, BXM Wealth LLC lifted its stake in shares of CocaCola by 4.3% in the 1st quarter. BXM Wealth LLC now owns 3,532 shares of the company’s stock valued at $253,000 after purchasing an additional 144 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Quincey sold 266,403 shares of the company’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 value 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. This represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

CocaCola Price Performance

NYSE:KO opened at $70.75 on Wednesday. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $304.48 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 3.68 and a beta of 0.44. The stock’s 50-day moving average price is $70.09 and its 200-day moving average price is $70.02.

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

CocaCola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend 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 72.34%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on KO shares. Cfra Research upgraded CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lifted their price objective on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. BNP Paribas reiterated an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. Finally, UBS Group lowered their price objective on CocaCola from $86.00 to $84.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $77.21.

CocaCola 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.