The Coca-Cola Company (NYSE:KO) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 4.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 41,518 shares of the company’s stock after selling 2,000 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Coca-Cola were worth $2,974,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Tallon Kerry Patrick acquired a new stake in shares of Coca-Cola in the fourth quarter valued at $241,000. Brighton Jones LLC lifted its holdings in shares of Coca-Cola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after buying an additional 4,591 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Coca-Cola in the fourth quarter valued at $24,472,000. Revolve Wealth Partners LLC lifted its holdings in shares of Coca-Cola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after buying an additional 293 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Coca-Cola by 1.6% in the fourth quarter. Van ECK Associates Corp now owns 962,530 shares of the company’s stock valued at $59,928,000 after buying an additional 15,200 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Down 1.8%

NYSE:KO opened at $70.94 on Friday. The firm has a market capitalization of $305.36 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 3.79 and a beta of 0.46. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. 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 business’s fifty day moving average price is $71.56 and its 200 day moving average price is $67.84.

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

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.88%. The ex-dividend date is Friday, June 13th. Coca-Cola’s payout ratio is 81.60%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the transaction, the chief financial officer now owns 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 over the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Barclays restated an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Piper Sandler boosted their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. UBS Group boosted their target price on Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 target price on shares of Coca-Cola in a research report on Monday, June 9th. Finally, Royal Bank of Canada boosted their target price on Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola has an average rating of “Buy” and an average target price of $76.00.

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.