The Coca-Cola Company (NYSE:KO) Shares Sold by Traynor Capital Management Inc.

Traynor Capital Management Inc. lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 16.1% in the first quarter, HoldingsChannel reports. The firm owned 4,770 shares of the company’s stock after selling 915 shares during the quarter. Traynor Capital Management Inc.’s holdings in Coca-Cola were worth $292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KO. Norges Bank acquired a new position in Coca-Cola during the 4th quarter valued at approximately $2,808,056,000. Fisher Asset Management LLC raised its stake in Coca-Cola by 11,138.6% during the 4th quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock valued at $293,343,000 after acquiring an additional 4,933,527 shares in the last quarter. Pathstone Holdings LLC bought a new stake in Coca-Cola during the 4th quarter valued at $193,342,000. Putnam Investments LLC raised its stake in Coca-Cola by 32.8% during the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after acquiring an additional 2,973,234 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Coca-Cola by 7.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 40,564,179 shares of the company’s stock valued at $2,390,448,000 after acquiring an additional 2,893,061 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Up 1.9 %

Shares of Coca-Cola stock opened at $63.98 on Tuesday. The stock’s fifty day moving average is $62.32 and its 200-day moving average is $60.65. The firm has a market capitalization of $275.62 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 3.55 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.36.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. Coca-Cola’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. Equities analysts anticipate that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Dividend Announcement

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

Insider Buying and Selling

In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $63.31, for a total value of $561,812.94. Following the transaction, the executive vice president now owns 33,638 shares in the company, valued at approximately $2,129,621.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related 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 value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monica Howard Douglas sold 8,874 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $63.31, for a total value of $561,812.94. Following the transaction, the executive vice president now owns 33,638 shares in the company, valued at $2,129,621.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 223,665 shares of company stock valued at $13,995,465. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

KO has been the topic of several recent analyst reports. Evercore ISI lifted their target price on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. UBS Group lifted their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. BNP Paribas initiated coverage on Coca-Cola in a research note on Monday. They set an “outperform” rating and a $72.00 target price on the stock. Finally, StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $68.83.

About Coca-Cola

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.