The Coca-Cola Company (NYSE:KO) Shares Sold by Bell Asset Management Ltd

Bell Asset Management Ltd reduced its position in shares of The Coca-Cola Company (NYSE:KOFree Report) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 167,987 shares of the company’s stock after selling 630 shares during the period. Coca-Cola accounts for about 1.5% of Bell Asset Management Ltd’s holdings, making the stock its 21st biggest holding. Bell Asset Management Ltd’s holdings in Coca-Cola were worth $9,899,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in KO. ZRC Wealth Management LLC grew its holdings in shares of Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares in the last quarter. Tidemark LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at approximately $26,000. Private Wealth Management Group LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at approximately $27,000. Criterion Capital Advisors LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at approximately $30,000. Finally, Frazier Financial Advisors LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at approximately $31,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. StockNews.com upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating in a report on Wednesday, May 29th. Evercore ISI boosted their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. UBS Group boosted their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Barclays boosted their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $68.58.

Read Our Latest Report on Coca-Cola

Insiders Place Their Bets

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the transaction, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the transaction, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at approximately $2,129,621.78. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now directly owns 167,107 shares in the company, valued at $10,358,962.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,838 shares of company stock worth $11,220,064. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Performance

KO stock traded up $1.00 on Tuesday, hitting $63.93. The company’s stock had a trading volume of 11,891,284 shares, compared to its average volume of 13,329,236. The firm has a 50 day moving average of $61.36 and a two-hundred day moving average of $60.18. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $63.97. The stock has a market cap of $275.41 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 3.55 and a beta of 0.59. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KOGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. Coca-Cola’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts predict that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.03%. Coca-Cola’s payout ratio is currently 77.60%.

Coca-Cola Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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