The Coca-Cola Company (NYSE:KO) Shares Sold by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC reduced its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 284,522 shares of the company’s stock after selling 3,229 shares during the quarter. Coca-Cola makes up 1.3% of Franklin Street Advisors Inc. NC’s investment portfolio, making the stock its 28th biggest holding. Franklin Street Advisors Inc. NC’s holdings in Coca-Cola were worth $17,407,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Enterprise Bank & Trust Co increased its stake in Coca-Cola by 3.4% in the 4th quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after purchasing an additional 167 shares in the last quarter. Goelzer Investment Management Inc. increased its position in Coca-Cola by 1.8% during the fourth quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock worth $571,000 after buying an additional 169 shares in the last quarter. Elk River Wealth Management LLC increased its position in Coca-Cola by 1.6% during the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after buying an additional 170 shares in the last quarter. KRS Capital Management LLC increased its position in Coca-Cola by 3.8% during the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock worth $274,000 after buying an additional 170 shares in the last quarter. Finally, Wayfinding Financial LLC increased its position in Coca-Cola by 1.8% during the fourth quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock worth $573,000 after buying an additional 175 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Down 0.5 %

NYSE:KO traded down $0.33 during mid-day trading on Thursday, hitting $63.72. The company had a trading volume of 3,875,879 shares, compared to its average volume of 13,053,813. The business has a fifty day simple moving average of $62.55 and a 200-day simple moving average of $60.71. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.36. The firm has a market capitalization of $274.50 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 3.61 and a beta of 0.59.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period in the previous year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s payout ratio is 77.60%.

Analyst Ratings Changes

Several research firms have weighed in on KO. Barclays raised their price target on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Evercore ISI raised their price objective on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Argus raised their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Morgan Stanley raised their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. raised their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.83.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the transaction, the executive vice president now directly owns 167,107 shares in the company, valued at $10,358,962.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now directly owns 218,880 shares in the company, valued at $13,644,979.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the transaction, the executive vice president now owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 223,665 shares of company stock valued at $13,995,465. 0.97% of the stock is currently owned by insiders.

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.