Wayfinding Financial LLC Lowers Holdings in CocaCola Company (The) (NYSE:KO)

Wayfinding Financial LLC decreased its holdings in CocaCola Company (The) (NYSE:KO) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,588 shares of the company’s stock after selling 331 shares during the quarter. Wayfinding Financial LLC’s holdings in CocaCola were worth $619,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KO. Norges Bank purchased a new stake in CocaCola in the 4th quarter valued at about $3,402,151,000. Capital International Investors grew its holdings in shares of CocaCola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares during the period. Franklin Resources Inc. grew its holdings in shares of CocaCola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after purchasing an additional 6,118,819 shares during the period. GAMMA Investing LLC grew its holdings in shares of CocaCola by 8,419.4% during the 1st quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company’s stock worth $426,927,000 after purchasing an additional 5,891,034 shares during the period. Finally, Capital Research Global Investors grew its holdings in shares of CocaCola by 119.0% during the 4th quarter. Capital Research Global Investors now owns 9,458,248 shares of the company’s stock worth $588,871,000 after purchasing an additional 5,139,352 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Stock Performance

Shares of KO opened at $71.19 on Friday. The business’s 50 day moving average is $71.08 and its two-hundred day moving average is $68.56. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The firm has a market cap of $306.42 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 3.74 and a beta of 0.45. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57.

CocaCola (NYSE:KO) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the prior year, the company posted $0.72 EPS. CocaCola’s quarterly revenue was down .7% on a year-over-year basis. Analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, June 13th. CocaCola’s dividend payout ratio is currently 81.60%.

Analysts Set New Price Targets

KO has been the subject of a number of research reports. Cfra Research upgraded CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. Morgan Stanley reiterated an “overweight” rating and set a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Royal Bank Of Canada boosted their target price on CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their target price on CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Finally, UBS Group boosted their price target on CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, CocaCola currently has an average rating of “Buy” and an average price target of $76.27.

Insider Activity at CocaCola

In related news, CEO James Quincey sold 266,403 shares of the company’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 sale, the chief executive officer directly owned 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the company’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 sale, the executive vice president directly owned 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 415,387 shares of company stock valued at $29,923,985. Corporate insiders own 0.97% of the company’s stock.

CocaCola Company 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.