Signaturefd LLC Reduces Stock Holdings in CocaCola Company (The) (NYSE:KO)

Signaturefd LLC lowered its position in CocaCola Company (The) (NYSE:KO) by 8.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 485,384 shares of the company’s stock after selling 44,308 shares during the quarter. CocaCola comprises about 0.7% of Signaturefd LLC’s holdings, making the stock its 24th biggest holding. Signaturefd LLC’s holdings in CocaCola were worth $34,763,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in CocaCola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after buying an additional 4,591 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of CocaCola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after purchasing an additional 293 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in shares of CocaCola by 12.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company’s stock valued at $1,189,000 after purchasing an additional 2,072 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of CocaCola by 46.2% in the fourth quarter. Proficio Capital Partners LLC now owns 10,843 shares of the company’s stock valued at $675,000 after purchasing an additional 3,426 shares during the period. Finally, Great Lakes Advisors LLC boosted its stake in shares of CocaCola by 21.2% in the fourth quarter. Great Lakes Advisors LLC now owns 18,010 shares of the company’s stock valued at $1,121,000 after purchasing an additional 3,148 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at CocaCola

In other news, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 205,511 shares in the company, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, the executive vice president owned 187,716 shares in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 415,387 shares of company stock worth $29,923,985. Insiders own 0.97% of the company’s stock.

CocaCola Stock Up 0.2%

KO stock opened at $69.89 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company’s 50 day moving average is $70.90 and its two-hundred day moving average is $68.90. The stock has a market cap of $300.83 billion, a P/E ratio of 27.96, a PEG ratio of 3.66 and a beta of 0.45.

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 analysts’ consensus estimates of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The company had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter last year, the company earned $0.72 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Research analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.92%. CocaCola’s payout ratio is currently 81.60%.

Analysts Set New Price Targets

KO has been the subject of several recent research reports. Cfra Research raised shares of CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. Morgan Stanley reissued an “overweight” rating and issued a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. JPMorgan Chase & Co. raised their price objective on shares of CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Barclays reissued an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. Finally, UBS Group raised their target price on shares of CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $76.71.

CocaCola 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.