Gradient Investments LLC Sells 148,376 Shares of The Coca-Cola Company (NYSE:KO)

Gradient Investments LLC reduced its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 35.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 266,968 shares of the company's stock after selling 148,376 shares during the quarter. Gradient Investments LLC's holdings in Coca-Cola were worth $16,333,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of KO. Enterprise Bank & Trust Co boosted its position in Coca-Cola by 3.4% during the fourth quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company's stock valued at $296,000 after buying an additional 167 shares during the period. Community Bank & Trust Waco Texas boosted its holdings in Coca-Cola by 0.6% during the 1st quarter. Community Bank & Trust Waco Texas now owns 30,262 shares of the company's stock valued at $1,851,000 after acquiring an additional 168 shares during the period. Goelzer Investment Management Inc. grew its position in Coca-Cola by 1.8% during the 4th quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company's stock worth $571,000 after acquiring an additional 169 shares during the last quarter. Elk River Wealth Management LLC increased its stake in Coca-Cola by 1.6% in the 4th quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company's stock worth $639,000 after purchasing an additional 170 shares during the period. Finally, KRS Capital Management LLC lifted its position in Coca-Cola by 3.8% in the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company's stock valued at $274,000 after purchasing an additional 170 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Coca-Cola Stock Up 0.3 %

KO traded up $0.18 during midday trading on Friday, reaching $62.17. The company's stock had a trading volume of 11,628,675 shares, compared to its average volume of 13,782,690. The stock's 50-day moving average is $60.24 and its 200-day moving average is $59.12. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.25. The firm has a market capitalization of $268.03 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 3.54 and a beta of 0.57. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the company earned $0.68 EPS. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, research analysts expect that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.12%. Coca-Cola's dividend payout ratio is presently 77.60%.

Analyst Upgrades and Downgrades

KO has been the topic of several analyst reports. Citigroup lifted their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, January 17th. Barclays upped their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the company an "overweight" rating in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday. Evercore ISI boosted their target price on Coca-Cola from $67.00 to $70.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, UBS Group raised their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of "Moderate Buy" and an average price target of $68.27.

Insider Activity

In other news, EVP Nancy Quan sold 57,368 shares of the business's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Nancy Quan sold 57,368 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the transaction, the executive vice president now directly owns 223,330 shares of the company's stock, valued at approximately $13,594,097.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bruno Pietracci sold 18,551 shares of the firm's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. Insiders have sold a total of 323,107 shares of company stock worth $19,657,742 over the last 90 days. 0.97% of the stock is currently owned by insiders.

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.

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.