Janney Montgomery Scott LLC Sells 15,380 Shares of The Coca-Cola Company (NYSE:KO)

Janney Montgomery Scott LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,595,396 shares of the company's stock after selling 15,380 shares during the period. Janney Montgomery Scott LLC's holdings in Coca-Cola were worth $114,262,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Voleon Capital Management LP bought a new position in Coca-Cola during the fourth quarter valued at $2,513,000. Clark Capital Management Group Inc. grew its holdings in Coca-Cola by 31.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock valued at $52,851,000 after purchasing an additional 204,681 shares during the period. Alphinity Investment Management Pty Ltd grew its holdings in Coca-Cola by 8.1% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company's stock valued at $652,767,000 after purchasing an additional 783,161 shares during the period. StoneX Group Inc. grew its holdings in Coca-Cola by 80.0% during the fourth quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock valued at $3,224,000 after purchasing an additional 23,009 shares during the period. Finally, Fortress Financial Group LLC bought a new position in Coca-Cola during the fourth quarter valued at $416,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Performance

Shares of KO opened at $70.94 on Monday. The company has a market cap of $305.36 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The stock has a 50-day moving average price of $71.56 and a 200-day moving average price of $67.89. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

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

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.88%. Coca-Cola's payout ratio is 81.60%.

Analysts Set New Price Targets

KO has been the subject of a number of analyst reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price target on shares of Coca-Cola in a report on Monday, June 9th. Cfra Research raised Coca-Cola to a "strong-buy" rating in a report on Tuesday, April 15th. Barclays reaffirmed an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. JPMorgan Chase & Co. raised their price target on Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Finally, Royal Bank of Canada raised their price target on Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Two investment 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's stock. According to data from MarketBeat.com, Coca-Cola currently has an average rating of "Buy" and an average price target of $76.00.

Insider Buying and Selling

In related news, CEO James Quincey sold 266,403 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the sale, the chief executive officer now owns 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now owns 187,716 shares of the company's stock, valued at $13,491,148.92. The trade was a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock worth $29,923,985 in the last quarter. 0.97% of the stock is owned by insiders.

About Coca-Cola

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.

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