G&S Capital LLC Sells 4,700 Shares of The Coca-Cola Company (NYSE:KO)

G&S Capital LLC cut its stake in The Coca-Cola Company (NYSE:KO) by 20.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,739 shares of the company’s stock after selling 4,700 shares during the quarter. G&S Capital LLC’s holdings in Coca-Cola were worth $1,146,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on KO shares. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, June 14th. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Morgan Stanley lifted their target price on Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. UBS Group increased their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, BNP Paribas started coverage on Coca-Cola in a research note on Monday. They issued an “outperform” rating and a $72.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.83.

Coca-Cola Trading Up 0.3 %

NYSE:KO opened at $64.05 on Thursday. The firm has a fifty day simple moving average of $62.44 and a two-hundred day simple moving average of $60.69. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.36. The stock has a market capitalization of $275.92 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 3.61 and a beta of 0.59. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period last year, the business posted $0.68 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts expect that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Beatriz R. Perez sold 57,298 shares of the company’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 in the company, valued at $10,358,962.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 223,665 shares of company stock valued at $13,995,465. 0.97% of the stock is owned by company 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.