Azzad Asset Management Inc. ADV Sells 1,100 Shares of The Coca-Cola Company (NYSE:KO)

Azzad Asset Management Inc. ADV decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,247 shares of the company’s stock after selling 1,100 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Coca-Cola were worth $2,585,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. ZRC Wealth Management LLC grew its holdings in Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after buying an additional 320 shares in the last quarter. Tidemark LLC bought a new stake in Coca-Cola during the fourth quarter worth $26,000. Private Wealth Management Group LLC bought a new stake in Coca-Cola during the fourth quarter worth $27,000. Criterion Capital Advisors LLC bought a new stake in Coca-Cola during the fourth quarter worth $30,000. Finally, Frazier Financial Advisors LLC bought a new stake in Coca-Cola during the fourth quarter worth $31,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $63.33 on Thursday. The stock’s 50-day simple moving average is $62.82 and its 200 day simple moving average is $60.85. The stock has a market capitalization of $272.82 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. 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 Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.36.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data 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 analysts’ expectations of $11.01 billion. During the same quarter in the prior year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Research analysts forecast that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a $0.485 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.06%. Coca-Cola’s payout ratio is currently 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 218,880 shares in the company, valued at approximately $13,644,979.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 218,880 shares in the company, valued at approximately $13,644,979.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $561,812.94. Following the transaction, the executive vice president now owns 33,638 shares in the company, valued at $2,129,621.78. The disclosure for this sale can be found here. Insiders have sold a total of 223,665 shares of company stock valued at $13,995,465 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on KO shares. Morgan Stanley upped their price target on Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Argus upped their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. upped their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. BNP Paribas initiated coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. Finally, Barclays upped their price objective on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $68.83.

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.