The Coca-Cola Company (NYSE:KO) Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 11.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,084,848 shares of the company’s stock after selling 133,615 shares during the period. Epoch Investment Partners Inc.’s holdings in Coca-Cola were worth $66,371,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Tidemark LLC purchased a new stake in Coca-Cola during the 4th quarter worth approximately $26,000. Private Wealth Management Group LLC purchased a new stake in Coca-Cola during the 4th quarter worth approximately $27,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola during the 1st quarter worth approximately $28,000. ESL Trust Services LLC purchased a new stake in Coca-Cola during the 1st quarter worth approximately $28,000. Finally, Criterion Capital Advisors LLC purchased a new stake in Coca-Cola during the 4th quarter worth approximately $30,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

NYSE:KO traded up $0.98 during trading hours on Friday, reaching $67.05. 13,530,071 shares of the company’s stock were exchanged, compared to its average volume of 11,022,199. The firm has a market capitalization of $288.85 billion, a price-to-earnings ratio of 26.82, a P/E/G ratio of 3.75 and a beta of 0.59. The company has a 50-day moving average of $63.48 and a 200 day moving average of $61.50. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $67.11.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 EPS. Research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Friday, June 14th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Truist Financial increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday. Barclays increased their price objective on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday. TD Cowen increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, UBS Group increased their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.20.

Insider Buying and Selling

In other news, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the sale, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. Insiders sold a total of 841,588 shares of company stock worth $568,972,027 in the last 90 days. Company insiders own 0.97% of the company’s stock.

Coca-Cola 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.