IAM Advisory LLC Lowers Position in The Coca-Cola Company (NYSE:KO)

IAM Advisory LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 22.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,856 shares of the company’s stock after selling 805 shares during the quarter. IAM Advisory LLC’s holdings in Coca-Cola were worth $205,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Procyon Advisors LLC lifted its position in Coca-Cola by 9.2% during the first quarter. Procyon Advisors LLC now owns 77,373 shares of the company’s stock valued at $5,541,000 after purchasing an additional 6,534 shares in the last quarter. Davis Capital Management lifted its position in Coca-Cola by 3.2% during the first quarter. Davis Capital Management now owns 28,843 shares of the company’s stock valued at $2,066,000 after purchasing an additional 903 shares in the last quarter. Stablepoint Partners LLC lifted its position in Coca-Cola by 7.5% during the first quarter. Stablepoint Partners LLC now owns 115,882 shares of the company’s stock valued at $8,299,000 after purchasing an additional 8,049 shares in the last quarter. Atwater Malick LLC lifted its position in Coca-Cola by 3.7% during the first quarter. Atwater Malick LLC now owns 144,421 shares of the company’s stock valued at $10,343,000 after purchasing an additional 5,132 shares in the last quarter. Finally, Curat Global LLC purchased a new position in Coca-Cola during the first quarter valued at $82,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 266,403 shares of the stock in a transaction 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 sale, the chief executive officer now owns 275,946 shares of the company’s stock, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 440,664 shares of company stock worth $31,730,532 over the last 90 days. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.6%

Shares of NYSE:KO opened at $71.37 on Friday. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a market cap of $307.20 billion, a P/E ratio of 28.89, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The business’s 50 day moving average is $71.39 and its 200 day moving average is $67.57. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $11.23 billion. During the same quarter in the prior year, the firm earned $0.72 earnings per share. Coca-Cola’s revenue was down .7% compared to the same quarter last year. Sell-side analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on KO shares. Piper Sandler boosted their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Morgan Stanley boosted their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Evercore ISI boosted their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Finally, Royal Bank of Canada boosted their price objective on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola presently has an average rating of “Buy” and an average price target of $75.81.

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.