Diligent Investors LLC Sells 6,981 Shares of The Coca-Cola Company (NYSE:KO)

Diligent Investors LLC decreased its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 23.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,965 shares of the company's stock after selling 6,981 shares during the quarter. Diligent Investors LLC's holdings in Coca-Cola were worth $1,645,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Peachtree Investment Partners LLC boosted its position in shares of Coca-Cola by 1.4% during the 4th quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company's stock valued at $697,000 after purchasing an additional 157 shares in the last quarter. Fort Sheridan Advisors LLC boosted its position in shares of Coca-Cola by 3.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company's stock valued at $311,000 after purchasing an additional 161 shares in the last quarter. Excalibur Management Corp boosted its position in shares of Coca-Cola by 0.6% during the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company's stock valued at $1,831,000 after purchasing an additional 161 shares in the last quarter. Tradition Wealth Management LLC boosted its position in shares of Coca-Cola by 3.0% during the 4th quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company's stock valued at $357,000 after purchasing an additional 167 shares in the last quarter. Finally, Aviance Capital Partners LLC boosted its position in shares of Coca-Cola by 0.7% during the 4th quarter. Aviance Capital Partners LLC now owns 23,988 shares of the company's stock valued at $1,493,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KO. JPMorgan Chase & Co. upped their target price on Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. UBS Group upped their price target on Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Piper Sandler upped their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Wells Fargo & Company upped their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Finally, DZ Bank raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target on the stock in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of "Buy" and a consensus target price of $75.81.

Coca-Cola Stock Down 0.7%

Coca-Cola stock traded down $0.48 during trading on Thursday, hitting $70.89. 12,462,407 shares of the company were exchanged, compared to its average volume of 15,791,566. The business's 50 day moving average is $71.41 and its 200 day moving average is $67.45. The Coca-Cola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a market capitalization of $305.11 billion, a P/E ratio of 28.70, a PEG ratio of 3.79 and a beta of 0.47. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. Coca-Cola's revenue was down .7% compared to the same quarter last year. Analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.88%. Coca-Cola's dividend payout ratio (DPR) is currently 81.60%.

Insider Buying and Selling

In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the transaction, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. This represents a 24.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nikolaos Koumettis sold 55,500 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $71.01, for a total value of $3,941,055.00. Following the completion of the transaction, the insider now owns 246,909 shares of the company's stock, valued at $17,533,008.09. This trade represents a 18.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 496,164 shares of company stock worth $35,671,587. 0.97% of the stock is owned by corporate insiders.

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.