Sonora Investment Management Group LLC Sells 549 Shares of The Coca-Cola Company (NYSE:KO)

Sonora Investment Management Group LLC decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 0.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 96,203 shares of the company’s stock after selling 549 shares during the period. Sonora Investment Management Group LLC’s holdings in Coca-Cola were worth $6,890,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Tallon Kerry Patrick bought a new position in Coca-Cola in the 4th quarter worth approximately $241,000. Brighton Jones LLC boosted its stake in shares of Coca-Cola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after purchasing an additional 4,591 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $24,472,000. Revolve Wealth Partners LLC grew its position in shares of Coca-Cola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after buying an additional 293 shares during the period. Finally, WCM Investment Management LLC lifted its holdings in Coca-Cola by 145.6% in the fourth quarter. WCM Investment Management LLC now owns 64,128 shares of the company’s stock valued at $3,978,000 after buying an additional 38,017 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the sale, the chief executive officer now directly owns 275,946 shares in the company, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO John Murphy sold 88,658 shares of Coca-Cola stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the transaction, the chief financial officer now directly owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. raised their price target on Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Evercore ISI increased their target price on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, DZ Bank upgraded 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. 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $76.00.

Coca-Cola Stock Performance

Shares of KO opened at $71.76 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The firm has a fifty day simple moving average of $71.39 and a 200 day simple moving average of $67.68. The stock has a market capitalization of $308.89 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 3.79 and a beta of 0.46.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. Coca-Cola’s quarterly revenue was down .7% on a year-over-year basis. Research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio is currently 81.60%.

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.