TRUE Private Wealth Advisors Sells 12,431 Shares of The Coca-Cola Company (NYSE:KO)

TRUE Private Wealth Advisors trimmed its stake in The Coca-Cola Company (NYSE:KO) by 70.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,317 shares of the company’s stock after selling 12,431 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Coca-Cola were worth $313,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Castleview Partners LLC lifted its holdings in shares of Coca-Cola by 4.4% in the first quarter. Castleview Partners LLC now owns 3,973 shares of the company’s stock worth $246,000 after acquiring an additional 167 shares during the last quarter. Enterprise Bank & Trust Co grew its position in shares of 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 buying an additional 167 shares during the period. Elk River Wealth Management LLC grew its position in shares of Coca-Cola by 1.6% during the 4th quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after buying an additional 170 shares during the period. KRS Capital Management LLC grew its position in shares of Coca-Cola by 3.8% during the 4th quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock worth $274,000 after buying an additional 170 shares during the period. Finally, Somerville Kurt F grew its position in shares of Coca-Cola by 0.8% during the 1st quarter. Somerville Kurt F now owns 21,377 shares of the company’s stock worth $1,325,000 after buying an additional 172 shares during the period. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Up 0.8 %

KO stock opened at $58.51 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The company’s 50 day moving average is $59.94 and its 200 day moving average is $58.52. The stock has a market cap of $252.25 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 3.29 and a beta of 0.59. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.99.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. The company had revenue of $10.80 billion for the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. Coca-Cola’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 earnings per share. Sell-side analysts predict that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio is 78.23%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Barclays lifted their target price on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Finally, Citigroup lifted their price objective on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $67.18.

Insider Activity

In other news, CEO James Quincey sold 247,188 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 247,188 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 375,407 shares of company stock valued at $22,795,742. 0.97% of the stock is currently owned by company insiders.

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.