Delta Asset Management LLC TN Cuts Position in The Coca-Cola Company (NYSE:KO)

Delta Asset Management LLC TN trimmed its position in shares of The Coca-Cola Company (NYSE:KOFree Report) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,876 shares of the company’s stock after selling 206 shares during the period. Delta Asset Management LLC TN’s holdings in Coca-Cola were worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ZRC Wealth Management LLC raised its holdings in Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after buying an additional 320 shares during the period. Private Wealth Management Group LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at $27,000. Criterion Capital Advisors LLC bought a new stake in shares of Coca-Cola in the 4th quarter worth about $30,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Coca-Cola during the 4th quarter worth about $32,000. Finally, Financial Connections Group Inc. bought a new position in Coca-Cola during the 4th quarter valued at about $38,000. 70.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KO. JPMorgan Chase & Co. boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. UBS Group upped their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Barclays increased their target price on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Argus boosted their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Evercore ISI raised their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $68.58.

View Our Latest Stock Analysis on KO

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 247,188 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 446,577 shares of company stock valued at $27,385,816. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Up 0.1 %

Shares of KO traded up $0.09 during mid-day trading on Wednesday, hitting $63.00. The company’s stock had a trading volume of 7,407,002 shares, compared to its average volume of 13,471,900. The firm has a market capitalization of $271.40 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 3.55 and a beta of 0.57. The company’s 50-day moving average is $60.96 and its 200-day moving average is $59.80. 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 Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $63.76.

Coca-Cola (NYSE:KOGet Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS. On average, equities research analysts forecast that The Coca-Cola Company will post 2.82 EPS 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. Shareholders of record on Friday, June 14th will be issued a $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.08%. Coca-Cola’s dividend payout ratio is presently 77.60%.

About Coca-Cola

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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