The Coca-Cola Company (NYSE:KO) Shares Sold by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd trimmed its position in The Coca-Cola Company (NYSE:KO) by 20.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 60,038 shares of the company’s stock after selling 15,480 shares during the period. JARISLOWSKY FRASER Ltd’s holdings in Coca-Cola were worth $3,738,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of KO. Crowley Wealth Management Inc. purchased a new stake in shares of Coca-Cola during the 4th quarter valued at approximately $27,000. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola in the fourth quarter worth $31,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola in the fourth quarter worth $37,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Coca-Cola in the fourth quarter worth $38,000. Finally, Hoey Investments Inc. grew its stake in shares of Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after purchasing an additional 181 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In related 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 transaction of $4,335,629.62. Following the sale, the executive vice president now owns 187,716 shares in the company, 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 this hyperlink. Also, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $24,324,191.46. This trade represents a 29.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 462,407 shares of company stock valued at $32,990,056 over the last quarter. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Piper Sandler boosted their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a report on Tuesday, April 15th. Evercore ISI upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada upped their target price on shares of Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $75.59.

Coca-Cola Trading Down 0.8%

Shares of KO opened at $70.62 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The firm’s 50-day moving average is $70.95 and its two-hundred day moving average is $66.63. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The firm has a market capitalization of $303.97 billion, a P/E ratio of 28.59, a PEG ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. The company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 earnings per share. On average, research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s payout ratio is currently 81.60%.

Coca-Cola 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.