The Coca-Cola Company (NYSE:KO) Stock Position Cut by Successful Portfolios LLC

Successful Portfolios LLC decreased its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,307 shares of the company’s stock after selling 215 shares during the period. Successful Portfolios LLC’s holdings in Coca-Cola were worth $1,120,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Patrick M Sweeney & Associates Inc. bought a new position in Coca-Cola during the 4th quarter valued at $410,000. Beacon Pointe Advisors LLC lifted its holdings in Coca-Cola by 24.7% in the 4th quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock valued at $26,549,000 after acquiring an additional 89,139 shares during the last quarter. Insigneo Advisory Services LLC grew its stake in shares of Coca-Cola by 12.2% in the 3rd quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock worth $2,354,000 after purchasing an additional 4,527 shares during the last quarter. Birchcreek Wealth Management LLC boosted its holdings in Coca-Cola by 12.6% during the fourth quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock worth $267,000 after buying an additional 507 shares in the last quarter. Finally, Wahed Invest LLC grew its holdings in shares of Coca-Cola by 10.3% in the 3rd quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock worth $3,435,000 after acquiring an additional 5,707 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,168,055.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, 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 sale, the insider now directly owns 218,880 shares in the company, valued at approximately $13,644,979.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nancy Quan sold 19,304 shares of the company’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 transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,168,055.20. The disclosure for this sale can be found here. Insiders sold a total of 223,665 shares of company stock valued at $13,995,465 in the last quarter. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

KO opened at $63.65 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The company has a market cap of $274.20 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The stock has a 50-day moving average of $62.72 and a 200-day moving average of $60.78. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.36.

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 firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

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. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.05%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Wall Street Analyst Weigh In

Several analysts have issued reports on KO shares. UBS Group boosted 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 1st. Evercore ISI upped their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Argus increased their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Finally, Morgan Stanley upped their target price on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.83.

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.