Massachusetts Financial Services Co. MA Sells 1,449 Shares of The Coca-Cola Company (NYSE:KO)

Massachusetts Financial Services Co. MA decreased its position in shares of The Coca-Cola Company (NYSE:KOFree Report) by 0.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 176,447 shares of the company’s stock after selling 1,449 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Coca-Cola were worth $10,398,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in KO. ZRC Wealth Management LLC grew its position in shares of Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares in the last quarter. Criterion Capital Advisors LLC purchased a new position in Coca-Cola during the 4th quarter valued at about $30,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Coca-Cola during the fourth quarter valued at about $32,000. Financial Connections Group Inc. purchased a new stake in shares of Coca-Cola in the fourth quarter worth about $38,000. Finally, Avion Wealth boosted its position in shares of Coca-Cola by 64.8% in the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after acquiring an additional 322 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO opened at $63.03 on Friday. The company has a market capitalization of $271.53 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 3.58 and a beta of 0.57. The business has a 50 day moving average of $60.87 and a 200 day moving average of $59.70. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $63.76.

Coca-Cola (NYSE:KOGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS. On average, sell-side analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

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 issued a $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.08%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KO. Evercore ISI increased their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. UBS Group increased their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Barclays raised their price target on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.27.

Check Out Our Latest Analysis on KO

Insider Activity

In other news, EVP Henrique Braun sold 57,298 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $63.08, for a total transaction of $3,614,357.84. Following the completion of the sale, the executive vice president now directly owns 52,466 shares in the company, valued at $3,309,555.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Coca-Cola news, EVP Henrique Braun sold 57,298 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $63.08, for a total value of $3,614,357.84. Following the completion of the transaction, the executive vice president now directly owns 52,466 shares in the company, valued at approximately $3,309,555.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 446,577 shares of company stock valued at $27,385,816. Insiders own 0.97% of the company’s stock.

About Coca-Cola

(Free Report)

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.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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