The Coca-Cola Company (NYSE:KO) Shares Sold by Thrive Wealth Management LLC

Thrive Wealth Management LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,651 shares of the company’s stock after selling 702 shares during the period. Thrive Wealth Management LLC’s holdings in Coca-Cola were worth $1,049,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after acquiring an additional 11,569,920 shares during the period. Norges Bank acquired a new stake in Coca-Cola during the fourth quarter worth about $3,402,151,000. Northern Trust Corp lifted its holdings in shares of Coca-Cola by 9.5% in the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock worth $2,727,131,000 after purchasing an additional 3,811,756 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Coca-Cola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after acquiring an additional 6,118,819 shares during the period. Finally, Capital International Investors boosted its position in shares of Coca-Cola by 96.0% during the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after buying an additional 12,222,885 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Thursday, February 13th. Piper Sandler boosted their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Morgan Stanley upped their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Royal Bank of Canada boosted their price target on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Finally, Evercore ISI upped their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $75.81.

Insider Transactions at Coca-Cola

In other news, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Henrique Braun sold 25,277 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now directly owns 52,466 shares of the company’s stock, valued at $3,749,745.02. This trade represents a 32.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 496,164 shares of company stock valued at $35,671,587 over the last quarter. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock opened at $71.39 on Thursday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The company has a market capitalization of $307.28 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The business has a 50 day simple moving average of $71.41 and a 200 day simple moving average of $67.45.

Coca-Cola (NYSE:KO) last released its earnings results 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. The company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 earnings per share. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. Coca-Cola’s payout ratio is 81.60%.

Coca-Cola Company 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.