Signet Financial Management LLC Sells 46,497 Shares of The Coca-Cola Company (NYSE:KO)

Signet Financial Management LLC reduced its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 93.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,355 shares of the company's stock after selling 46,497 shares during the period. Signet Financial Management LLC's holdings in Coca-Cola were worth $240,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, CEO James Quincey sold 266,403 shares of the stock in a transaction 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 sale, the chief executive officer now owns 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the 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 transaction, the executive vice president now owns 187,716 shares in the company, 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. In the last three months, insiders sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of research analyst reports. Piper Sandler boosted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Barclays reissued an "overweight" rating on shares of Coca-Cola in a research note on Thursday, March 27th. UBS Group upped their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company upped their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $76.00.

Coca-Cola Price Performance

Shares of NYSE:KO traded up $0.17 on Thursday, hitting $72.24. The stock had a trading volume of 12,747,632 shares, compared to its average volume of 15,822,629. The firm's 50 day moving average price is $71.50 and its 200-day moving average price is $67.80. The company has a market capitalization of $310.94 billion, a price-to-earnings ratio of 29.25, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. 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 twelve month low of $60.62 and a twelve month high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share 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 analysts' expectations of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 EPS. On average, equities research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.82%. Coca-Cola's payout ratio is 81.60%.

Coca-Cola Company 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.