Summit X LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,155 shares of the company’s stock after selling 1,706 shares during the quarter. Summit X LLC’s holdings in Coca-Cola were worth $2,057,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KO. Fairfield Bush & CO. bought a new stake in Coca-Cola in the 1st quarter valued at $77,000. Merit Financial Group LLC lifted its position in Coca-Cola by 16.7% in the 1st quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock valued at $758,000 after acquiring an additional 1,754 shares in the last quarter. NewEdge Advisors LLC lifted its position in Coca-Cola by 41.4% in the 1st quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock valued at $9,255,000 after acquiring an additional 43,680 shares in the last quarter. Ergoteles LLC lifted its position in Coca-Cola by 385.3% in the 1st quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock valued at $1,180,000 after acquiring an additional 15,110 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in Coca-Cola by 11.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock valued at $176,115,000 after acquiring an additional 301,804 shares in the last quarter. 68.61% of the stock is owned by institutional investors.

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Coca-Cola Stock Performance

NYSE KO traded up $0.11 during trading on Friday, reaching $60.72. The company’s stock had a trading volume of 4,841,963 shares, compared to its average volume of 13,064,431. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $262.57 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 3.55 and a beta of 0.54. The Coca-Cola Company has a 12 month low of $54.01 and a 12 month high of $65.47. The firm has a 50 day moving average price of $61.08 and a 200 day moving average price of $61.32.

Coca-Cola Dividend Announcement

Coca-Cola ( NYSE:KO Get Free Report ) last posted its quarterly earnings data 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 net margin of 23.81% and a return on equity of 43.06%. The firm had revenue of $12 billion during the quarter, compared to the consensus estimate of $11.74 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.63 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.03%. The ex-dividend date is Thursday, September 14th. Coca-Cola’s payout ratio is 75.72%.

Analysts Set New Price Targets

KO has been the topic of several analyst reports. Wedbush boosted their price target on shares of Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Royal Bank of Canada boosted their price target on shares of Coca-Cola from $69.00 to $70.00 in a research report on Thursday, July 27th. Citigroup boosted their price target on shares of Coca-Cola from $71.00 to $74.00 in a research report on Monday, April 24th. StockNews.com initiated coverage on shares of Coca-Cola in a research report on Thursday. They set a “buy” rating on the stock. Finally, Evercore ISI boosted their price target on shares of Coca-Cola from $68.00 to $70.00 in a research report on Tuesday, April 25th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.33.

Read Our Latest Stock Report on Coca-Cola

Insider Activity at Coca-Cola

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