Tobam Sells 6,606 Shares of The Coca-Cola Company (NYSE:KO)

Tobam decreased its position in The Coca-Cola Company (NYSE:KO) by 71.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,662 shares of the company’s stock after selling 6,606 shares during the period. Tobam’s holdings in Coca-Cola were worth $191,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in KO. Tallon Kerry Patrick purchased a new stake in Coca-Cola in the fourth quarter worth $241,000. Brighton Jones LLC lifted its position in shares of Coca-Cola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after purchasing an additional 4,591 shares during the period. Union Bancaire Privee UBP SA bought a new stake in shares of Coca-Cola during the 4th quarter valued at about $24,472,000. Revolve Wealth Partners LLC increased its position in shares of Coca-Cola by 3.4% during 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 raised its stake in Coca-Cola by 1.6% in the fourth quarter. Van ECK Associates Corp now owns 962,530 shares of the company’s stock worth $59,928,000 after buying an additional 15,200 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KO has been the topic of several research reports. Cfra Research raised Coca-Cola to a “strong-buy” rating in a research report on Tuesday, April 15th. Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. JPMorgan Chase & Co. raised 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. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 target price on shares of Coca-Cola in a research report on Monday, June 9th. Finally, Royal Bank of Canada increased their price target on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Buy” and an average price target of $76.00.

Coca-Cola Trading Down 1.8%

Shares of NYSE KO opened at $70.94 on Friday. The firm’s 50 day moving average price is $71.56 and its 200-day moving average price is $67.84. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The company has a market cap of $305.36 billion, a PE ratio of 28.72, a P/E/G ratio of 3.79 and a beta of 0.46.

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

Coca-Cola Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

Insider Buying and Selling

In other news, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction on 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 directly owns 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO James Quincey sold 266,403 shares of Coca-Cola stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the sale, the chief executive officer now directly owns 275,946 shares of the company’s stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is owned by corporate insiders.

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.