St. Johns Investment Management Company LLC Sells 19,937 Shares of CocaCola Company (The) (NYSE:KO)

St. Johns Investment Management Company LLC trimmed its position in shares of CocaCola Company (The) (NYSE:KO) by 50.8% during the first quarter, HoldingsChannel reports. The firm owned 19,342 shares of the company’s stock after selling 19,937 shares during the quarter. St. Johns Investment Management Company LLC’s holdings in CocaCola were worth $1,385,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. YHB Investment Advisors Inc. boosted its position in shares of CocaCola by 4.5% during the first quarter. YHB Investment Advisors Inc. now owns 14,309 shares of the company’s stock worth $1,025,000 after purchasing an additional 610 shares in the last quarter. Southern Capital Advisors LLC bought a new stake in CocaCola in the 1st quarter valued at $216,000. Consolidated Portfolio Review Corp lifted its position in CocaCola by 3.1% in the 1st quarter. Consolidated Portfolio Review Corp now owns 5,480 shares of the company’s stock valued at $392,000 after acquiring an additional 166 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in CocaCola in the 1st quarter valued at $103,000. Finally, Legacy Advisors LLC lifted its position in CocaCola by 39.8% in the 1st quarter. Legacy Advisors LLC now owns 37,611 shares of the company’s stock valued at $2,711,000 after acquiring an additional 10,705 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

CocaCola Stock Up 1.4%

CocaCola stock opened at $69.77 on Tuesday. The firm has a market capitalization of $300.31 billion, a PE ratio of 27.91, a P/E/G ratio of 3.61 and a beta of 0.46. The company’s 50-day moving average is $71.45 and its 200-day moving average is $68.16. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89.

CocaCola (NYSE:KO) last released its quarterly earnings data 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. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. CocaCola’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 EPS. Sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.92%. CocaCola’s dividend payout ratio is presently 81.60%.

Wall Street Analysts Forecast Growth

KO has been the topic of several research reports. Royal Bank Of Canada boosted their price objective on shares of CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. UBS Group boosted their price objective on shares of CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, March 27th. JPMorgan Chase & Co. boosted their price objective on shares of CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CocaCola has a consensus rating of “Buy” and an average price target of $76.00.

Insider Transactions at CocaCola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction 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 approximately $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 in the last ninety days. Insiders own 0.90% 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.