The Coca-Cola Company (NYSE:KO) Holdings Cut by InTrack Investment Management Inc

InTrack Investment Management Inc cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,940 shares of the company’s stock after selling 473 shares during the quarter. InTrack Investment Management Inc’s holdings in Coca-Cola were worth $730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. ZRC Wealth Management LLC increased its stake in shares of Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the period. Tidemark LLC bought a new position in Coca-Cola in the 4th quarter worth approximately $26,000. Private Wealth Management Group LLC acquired a new stake in Coca-Cola in the 4th quarter valued at approximately $27,000. Criterion Capital Advisors LLC bought a new stake in Coca-Cola during the 4th quarter valued at $30,000. Finally, Frazier Financial Advisors LLC acquired a new position in Coca-Cola during the 4th quarter worth $31,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on KO shares. Argus raised their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. BNP Paribas began coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target on the stock. Morgan Stanley upped their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. upped their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $68.83.

Insider Activity

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction on 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 $13,644,979.20. The disclosure for this sale can be found here. Insiders have sold a total of 223,665 shares of company stock worth $13,995,465 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 0.2 %

Shares of KO stock traded down $0.14 on Tuesday, reaching $63.14. 8,877,389 shares of the company’s stock traded hands, compared to its average volume of 13,067,504. The company has a market capitalization of $272.00 billion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.36. 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 business’s 50 day moving average price is $62.77 and its two-hundred day moving average price is $60.81.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The company 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 in the previous year, the business posted $0.68 EPS. On average, equities analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Coca-Cola 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.