GenTrust LLC Trims Stock Holdings in CocaCola Company (The) (NYSE:KO)

GenTrust LLC decreased its holdings in shares of CocaCola Company (The) (NYSE:KO) by 4.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,659 shares of the company’s stock after selling 152 shares during the quarter. GenTrust LLC’s holdings in CocaCola were worth $264,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of CocaCola in the 4th quarter valued at about $3,402,151,000. Capital International Investors increased its position in CocaCola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock valued at $1,553,337,000 after purchasing an additional 12,222,885 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in CocaCola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after acquiring an additional 11,569,920 shares during the period. Raymond James Financial Inc. acquired a new position in shares of CocaCola in the 4th quarter valued at $500,192,000. Finally, Franklin Resources Inc. boosted its holdings in CocaCola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after buying an additional 6,118,819 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays reiterated an “overweight” rating on shares of CocaCola in a research report on Thursday, March 27th. UBS Group increased 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. Royal Bank Of Canada boosted their price objective on CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Cfra Research raised CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. Finally, Piper Sandler boosted their price target on shares of CocaCola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $76.27.

CocaCola Price Performance

CocaCola stock opened at $69.66 on Thursday. The firm has a market cap of $299.84 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 3.68 and a beta of 0.46. 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 Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company’s 50 day moving average is $71.38 and its two-hundred day moving average is $68.18.

CocaCola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same period in the previous year, the company earned $0.72 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, research analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm 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 is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.93%. CocaCola’s dividend payout ratio is currently 81.60%.

Insider Buying and Selling

In other news, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Quincey sold 266,403 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 275,946 shares in the company, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. 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 in the last quarter. Company 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.