Wallace Capital Management Inc. Sells 4,583 Shares of The Coca-Cola Company (NYSE:KO)

Wallace Capital Management Inc. decreased its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,100 shares of the company's stock after selling 4,583 shares during the quarter. Coca-Cola comprises approximately 0.7% of Wallace Capital Management Inc.'s investment portfolio, making the stock its 20th biggest holding. Wallace Capital Management Inc.'s holdings in Coca-Cola were worth $4,863,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of KO. Peachtree Investment Partners LLC raised its holdings in shares of Coca-Cola by 1.4% in the 4th quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company's stock worth $697,000 after purchasing an additional 157 shares during the period. Fort Sheridan Advisors LLC lifted 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 buying an additional 161 shares during the last quarter. Excalibur Management Corp grew its stake 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 worth $1,831,000 after acquiring an additional 161 shares during the period. Wells Trecaso Financial Group LLC grew its stake in shares of Coca-Cola by 4.8% during the 4th quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company's stock worth $225,000 after acquiring an additional 164 shares during the period. Finally, Tradition Wealth Management LLC increased its holdings in Coca-Cola by 3.0% in the 4th quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company's stock worth $357,000 after acquiring an additional 167 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Coca-Cola Price Performance

Shares of KO stock traded down $0.72 during trading hours on Thursday, hitting $71.13. 11,085,811 shares of the company's stock were exchanged, compared to its average volume of 15,656,390. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a market capitalization of $306.16 billion, a PE ratio of 28.80, a PEG ratio of 3.79 and a beta of 0.47. The business's 50 day simple moving average is $71.02 and its 200-day simple moving average is $66.89. 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 posted its quarterly earnings results 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. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The firm's revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently announced 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. This represents a $2.04 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's dividend payout ratio is presently 81.60%.

Insider Buying and Selling

In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction 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 sale, the executive vice president now owns 187,716 shares of the company's stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold a total of 462,407 shares of company stock worth $32,990,056 in the last ninety days. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Royal Bank of Canada increased their target price on Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Evercore ISI raised their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Finally, DZ Bank upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $75.59.

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.