First City Capital Management Inc. Has $4.03 Million Stock Position in The Coca-Cola Company (NYSE:KO)

First City Capital Management Inc. decreased its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 41.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,263 shares of the company's stock after selling 40,643 shares during the quarter. Coca-Cola makes up 2.4% of First City Capital Management Inc.'s portfolio, making the stock its 10th largest position. First City Capital Management Inc.'s holdings in Coca-Cola were worth $4,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Crowley Wealth Management Inc. acquired a new position in Coca-Cola during the 4th quarter valued at approximately $27,000. Mainstream Capital Management LLC acquired a new stake in Coca-Cola in the 4th quarter worth about $31,000. REAP Financial Group LLC boosted its stake in shares of Coca-Cola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after acquiring an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Coca-Cola during the fourth quarter worth about $38,000. Finally, Hoey Investments Inc. boosted its holdings in shares of Coca-Cola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company's stock worth $38,000 after purchasing an additional 181 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Coca-Cola Stock Up 0.6%

KO opened at $71.37 on Friday. The business's 50-day simple moving average is $71.39 and its 200-day simple moving average is $67.57. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The stock has a market capitalization of $307.20 billion, a P/E ratio of 28.89, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46.

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

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. Coca-Cola's payout ratio is 81.60%.

Insider Activity

In related news, COO Henrique Braun sold 25,277 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now owns 52,466 shares in the company, valued at $3,749,745.02. The trade was a 32.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer now directly owns 275,946 shares in the company, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 440,664 shares of company stock valued at $31,730,532 in the last ninety days. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Royal Bank of Canada increased their price objective on Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Wells Fargo & Company increased their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Evercore ISI increased their price target on Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, Cfra Research raised Coca-Cola to a "strong-buy" rating in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $75.81.

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.

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:KO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.