KMG Fiduciary Partners LLC trimmed its position in The Coca-Cola Company (NYSE:KO - Free Report) by 12.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 168,912 shares of the company's stock after selling 24,441 shares during the quarter. Coca-Cola comprises approximately 1.0% of KMG Fiduciary Partners LLC's holdings, making the stock its 23rd largest position. KMG Fiduciary Partners LLC's holdings in Coca-Cola were worth $12,097,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Peachtree Investment Partners LLC lifted its holdings in 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 during the last quarter. Fort Sheridan Advisors LLC lifted its holdings in 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 during the last quarter. Excalibur Management Corp lifted its holdings in 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 during the last quarter. Tradition Wealth Management LLC lifted its holdings in 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 during the last quarter. Finally, Aviance Capital Partners LLC lifted its holdings in 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 during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, COO Henrique Braun sold 25,277 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now owns 52,466 shares of the company's stock, valued at $3,749,745.02. This represents a 32.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were 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 directly owns 187,716 shares of the company's stock, valued at $13,491,148.92. This represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 440,664 shares of company stock valued at $31,730,532. 0.97% of the stock is currently owned by corporate insiders.
Coca-Cola Stock Up 0.6%
Shares of NYSE KO opened at $71.37 on Friday. 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 company has a market cap of $307.20 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 3.79 and a beta of 0.46. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The stock has a 50-day moving average price of $71.39 and a two-hundred day moving average price of $67.60.
Coca-Cola (NYSE:KO - Get Free Report) last issued its 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 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 business's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. As a group, analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.
Coca-Cola Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's payout ratio is 81.60%.
Analysts Set New Price Targets
Several equities research analysts have issued reports on KO shares. Morgan Stanley raised their price target on Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. DZ Bank raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a report on Thursday, February 13th. Evercore ISI lifted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Wells Fargo & Company lifted their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Finally, Piper Sandler lifted their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Two 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.com, the stock presently has a consensus rating of "Buy" and an average target price of $75.81.
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About Coca-Cola
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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.
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