Birmingham Capital Management Co. Inc. AL Sells 900 Shares of The Coca-Cola Company (NYSE:KO)

Birmingham Capital Management Co. Inc. AL lowered its stake in The Coca-Cola Company (NYSE:KO) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,934 shares of the company’s stock after selling 900 shares during the period. Coca-Cola makes up 2.2% of Birmingham Capital Management Co. Inc. AL’s holdings, making the stock its 15th biggest holding. Birmingham Capital Management Co. Inc. AL’s holdings in Coca-Cola were worth $5,597,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Coca-Cola by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after buying an additional 1,084,475 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Coca-Cola by 1.1% during the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after buying an additional 177,241 shares in the last quarter. Vontobel Asset Management Inc. lifted its position in shares of Coca-Cola by 2.7% during the 4th quarter. Vontobel Asset Management Inc. now owns 14,337,691 shares of the company’s stock worth $890,866,000 after buying an additional 378,447 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Coca-Cola by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after acquiring an additional 2,964,850 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In related news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. In the last three months, insiders have sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $71.73 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The stock has a market cap of $309.01 billion, a PE ratio of 28.69, a PEG ratio of 3.97 and a beta of 0.60. The company’s fifty day moving average is $70.10 and its 200 day moving average is $64.94. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on KO shares. Royal Bank of Canada raised their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Morgan Stanley raised their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Bank of America upped their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Citigroup raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.07.

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.