Sunbelt Securities Inc. Sells 838 Shares of The Coca-Cola Company (NYSE:KO)

Sunbelt Securities Inc. cut its holdings in The Coca-Cola Company (NYSE:KO) by 7.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,762 shares of the company’s stock after selling 838 shares during the period. Sunbelt Securities Inc.’s holdings in Coca-Cola were worth $658,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Argus raised their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Morgan Stanley boosted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. UBS Group boosted their price target 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. Finally, Barclays raised their price objective on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.83.

Coca-Cola Trading Down 0.2 %

Shares of KO stock opened at $63.93 on Friday. The company has a market capitalization of $275.41 billion, a P/E ratio of 25.57, a price-to-earnings-growth ratio of 3.62 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. The business’s 50 day moving average is $62.55 and its two-hundred day moving average is $60.71. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.36.

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

Coca-Cola Announces Dividend

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

Insider Activity at Coca-Cola

In other news, EVP Monica Howard Douglas sold 8,874 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the transaction, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at approximately $2,129,621.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Monica Howard Douglas sold 8,874 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the transaction, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The disclosure for this sale can be found here. Insiders sold a total of 223,665 shares of company stock worth $13,995,465 over the last 90 days. Company insiders own 0.97% of the company’s stock.

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.