Strait & Sound Wealth Management LLC Decreases Stock Position in The Coca-Cola Company (NYSE:KO)

Strait & Sound Wealth Management LLC lowered its position in shares of The Coca-Cola Company (NYSE:KOFree Report) by 2.1% during the fourth quarter, HoldingsChannel reports. The firm owned 8,201 shares of the company’s stock after selling 173 shares during the period. Strait & Sound Wealth Management LLC’s holdings in Coca-Cola were worth $492,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Haverford Financial Services Inc. boosted its holdings in Coca-Cola by 0.3% in the fourth quarter. Haverford Financial Services Inc. now owns 107,925 shares of the company’s stock valued at $6,360,000 after purchasing an additional 364 shares during the last quarter. Private Wealth Management Group LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at approximately $27,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth approximately $75,000. American National Bank grew its position in shares of Coca-Cola by 1.2% during the fourth quarter. American National Bank now owns 16,866 shares of the company’s stock worth $994,000 after buying an additional 205 shares in the last quarter. Finally, Navellier & Associates Inc. raised its holdings in Coca-Cola by 9.1% in the fourth quarter. Navellier & Associates Inc. now owns 15,818 shares of the company’s stock valued at $932,000 after acquiring an additional 1,313 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

NYSE:KO traded down $0.29 during midday trading on Friday, reaching $63.03. 11,539,022 shares of the company traded hands, compared to its average volume of 13,018,880. The firm has a market capitalization of $271.53 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 3.60 and a beta of 0.57. The company has a fifty day moving average price of $60.87 and a 200 day moving average price of $59.68. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $63.76.

Coca-Cola (NYSE:KOGet Free Report) last announced its quarterly 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. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts expect that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.08%. Coca-Cola’s payout ratio is currently 77.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Evercore ISI boosted their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. UBS Group boosted their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. 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. Finally, Barclays boosted their price target on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $68.27.

Get Our Latest Research Report on Coca-Cola

Insider Activity

In other Coca-Cola 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 completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $26,968,753.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 446,577 shares of company stock valued at $27,385,816. Insiders own 0.97% of the company’s stock.

Coca-Cola Profile

(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.

See Also

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KOFree Report).

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

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