The Coca-Cola Company (NYSE:KO) Shares Sold by Diversified Trust Co

Diversified Trust Co reduced its position in The Coca-Cola Company (NYSE:KO) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 544,670 shares of the company’s stock after selling 19,317 shares during the period. Coca-Cola makes up approximately 1.0% of Diversified Trust Co’s holdings, making the stock its 15th largest holding. Diversified Trust Co’s holdings in Coca-Cola were worth $33,323,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Aviance Capital Partners LLC lifted its stake in shares of Coca-Cola by 249.1% during the first quarter. Aviance Capital Partners LLC now owns 23,634 shares of the company’s stock worth $1,446,000 after purchasing an additional 16,864 shares in the last quarter. Chapin Davis Inc. lifted its position in Coca-Cola by 44.4% during the 1st quarter. Chapin Davis Inc. now owns 14,226 shares of the company’s stock worth $870,000 after acquiring an additional 4,377 shares in the last quarter. LVW Advisors LLC lifted its position in Coca-Cola by 35.1% during the 1st quarter. LVW Advisors LLC now owns 24,635 shares of the company’s stock worth $1,507,000 after acquiring an additional 6,398 shares in the last quarter. Financial Partners Group LLC boosted its holdings in Coca-Cola by 40.5% in the 1st quarter. Financial Partners Group LLC now owns 11,640 shares of the company’s stock worth $712,000 after acquiring an additional 3,355 shares during the period. Finally, Sandy Cove Advisors LLC grew its position in Coca-Cola by 1.7% in the first quarter. Sandy Cove Advisors LLC now owns 19,874 shares of the company’s stock valued at $1,216,000 after acquiring an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO traded down $0.16 during mid-day trading on Monday, reaching $63.49. 3,191,774 shares of the company traded hands, compared to its average volume of 13,046,302. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.36. The firm has a market cap of $273.51 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The stock has a fifty day simple moving average of $62.72 and a 200-day simple moving average of $60.78. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86.

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

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders 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 dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Insider Buying and Selling

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the sale, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the sale, the insider now directly owns 218,880 shares in the company, valued at approximately $13,644,979.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The disclosure for this sale can be found here. Insiders have sold 223,665 shares of company stock worth $13,995,465 in the last three months. 0.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

KO has been the topic of several recent analyst reports. BNP Paribas initiated coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. JPMorgan Chase & Co. increased 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. Barclays lifted their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Morgan Stanley increased their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus 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.