The Coca-Cola Company (NYSE:KO) Shares Sold by Global Trust Asset Management LLC

Global Trust Asset Management LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,579 shares of the company’s stock after selling 155 shares during the quarter. Global Trust Asset Management LLC’s holdings in Coca-Cola were worth $400,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new stake in Coca-Cola in the 4th quarter valued at about $27,000. Mainstream Capital Management LLC purchased a new stake in Coca-Cola in the 4th quarter valued at about $31,000. REAP Financial Group LLC grew its holdings in Coca-Cola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after buying an additional 208 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in Coca-Cola in the 4th quarter valued at about $38,000. Finally, Hoey Investments Inc. grew its holdings in Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after buying an additional 181 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 value of $19,197,000.18. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 completion of the transaction, the executive vice president now directly owns 187,716 shares in the company, valued at $13,491,148.92. The trade was a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock worth $29,923,985 over the last three months. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 0.7%

NYSE KO opened at $70.51 on Tuesday. The stock has a fifty day moving average of $71.60 and a 200-day moving average of $67.94. The stock has a market capitalization of $303.50 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. 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.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $11.13 billion during 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 earnings per share. On average, equities research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.89%. Coca-Cola’s dividend payout ratio (DPR) is 81.60%.

Analyst Upgrades and Downgrades

Several analysts have commented on KO shares. Morgan Stanley restated an “overweight” rating and issued a $81.00 price target on shares of Coca-Cola in a report on Monday, June 9th. Royal Bank of Canada lifted their price target on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Cfra Research upgraded Coca-Cola to a “strong-buy” rating in a report on Tuesday, April 15th. UBS Group lifted their price objective on Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Finally, Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $76.00.

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.