The Coca-Cola Company (NYSE:KO) Shares Sold by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt decreased its holdings in The Coca-Cola Company (NYSE:KO) by 8.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 86,579 shares of the company’s stock after selling 8,300 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Coca-Cola were worth $5,213,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KO. Morgan Stanley increased its stake in shares of Coca-Cola by 15.7% in the fourth quarter. Morgan Stanley now owns 79,101,856 shares of the company’s stock worth $5,031,669,000 after buying an additional 10,722,435 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Coca-Cola by 1.4% in the 1st quarter. Geode Capital Management LLC now owns 76,982,020 shares of the company’s stock worth $4,764,721,000 after purchasing an additional 1,087,974 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Coca-Cola by 4.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,636,577 shares of the company’s stock valued at $3,728,653,000 after purchasing an additional 2,546,489 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Coca-Cola by 103,297.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock worth $3,672,479,000 after purchasing an additional 57,678,466 shares during the last quarter. Finally, Norges Bank acquired a new position in Coca-Cola in the fourth quarter worth about $2,937,315,000. Hedge funds and other institutional investors own 68.96% of the company’s stock.

Insider Activity

In other news, SVP Monica Howard Douglas sold 21,074 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the completion of the sale, the senior vice president now owns 18,360 shares in the company, valued at approximately $1,118,124. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Coca-Cola news, SVP Monica Howard Douglas sold 21,074 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $60.90, for a total value of $1,283,406.60. Following the sale, the senior vice president now directly owns 18,360 shares in the company, valued at approximately $1,118,124. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John Murphy sold 156,290 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $62.10, for a total value of $9,705,609.00. Following the sale, the chief financial officer now directly owns 228,830 shares in the company, valued at approximately $14,210,343. The disclosure for this sale can be found here. Insiders have sold 227,364 shares of company stock worth $14,122,016 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on KO. HSBC reduced their target price on Coca-Cola from $77.00 to $74.00 in a report on Wednesday, June 7th. JPMorgan Chase & Co. lifted their price objective on shares of Coca-Cola from $67.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. Barclays increased their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Wedbush lifted their price target on shares of Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Finally, Royal Bank of Canada increased their price objective on shares of Coca-Cola from $69.00 to $70.00 in a research note on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $68.33.

Coca-Cola Stock Performance

KO stock traded down $0.19 on Thursday, reaching $58.25. The company’s stock had a trading volume of 2,940,884 shares, compared to its average volume of 12,860,032. The Coca-Cola Company has a 52 week low of $54.01 and a 52 week high of $64.99. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.14 and a quick ratio of 0.95. The company has a market capitalization of $251.89 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 3.42 and a beta of 0.55. The firm has a fifty day moving average of $60.62 and a two-hundred day moving average of $61.28.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Coca-Cola had a return on equity of 43.06% and a net margin of 23.81%. The firm had revenue of $12 billion during the quarter, compared to analyst estimates of $11.74 billion. During the same period last year, the company posted $0.70 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, analysts predict that The Coca-Cola Company will post 2.63 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Thursday, September 14th. Coca-Cola’s payout ratio is 75.72%.

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.