The Coca-Cola Company (NYSE:KO) Shares Sold by Triangle Securities Wealth Management

Triangle Securities Wealth Management reduced its position in The Coca-Cola Company (NYSE:KOGet Rating) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,404 shares of the company’s stock after selling 1,246 shares during the quarter. Triangle Securities Wealth Management’s holdings in Coca-Cola were worth $1,885,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in KO. Fortis Advisors LLC bought a new stake in Coca-Cola in the third quarter valued at about $25,000. Curi Wealth Management LLC bought a new position in shares of Coca-Cola during the fourth quarter valued at approximately $25,000. Shore Point Advisors LLC bought a new position in shares of Coca-Cola during the fourth quarter valued at approximately $28,000. Delos Wealth Advisors LLC grew its holdings in shares of Coca-Cola by 4,770.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 487 shares of the company’s stock valued at $29,000 after purchasing an additional 477 shares during the last quarter. Finally, Horan Securities Inc. bought a new position in shares of Coca-Cola during the fourth quarter valued at approximately $32,000. 68.51% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Nikolaos Koumettis sold 153,466 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $65.03, for a total value of $9,979,893.98. Following the completion of the sale, the insider now owns 136,513 shares of the company’s stock, valued at $8,877,440.39. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Nancy Quan sold 35,335 shares of the firm’s stock in a transaction that occurred on Thursday, April 14th. The shares were sold at an average price of $65.05, for a total transaction of $2,298,541.75. Following the completion of the transaction, the senior vice president now directly owns 198,456 shares in the company, valued at $12,909,562.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 412,161 shares of company stock valued at $26,786,278. Company insiders own 0.98% of the company’s stock.

KO has been the subject of several recent research reports. HSBC upped their target price on Coca-Cola from $68.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, April 26th. Cowen boosted their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on Coca-Cola from $62.00 to $64.00 and gave the stock a “hold” rating in a research report on Tuesday, April 26th. Guggenheim upped their target price on Coca-Cola from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, April 26th. Finally, Royal Bank of Canada upped their target price on Coca-Cola from $68.00 to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 26th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.05.

Coca-Cola stock opened at $61.15 on Thursday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.18 and a quick ratio of 0.98. The Coca-Cola Company has a one year low of $52.28 and a one year high of $67.20. The company’s fifty day moving average price is $63.44 and its two-hundred day moving average price is $61.45. The company has a market capitalization of $265.09 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 3.52 and a beta of 0.58.

Coca-Cola (NYSE:KOGet Rating) last released its earnings results on Monday, April 25th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.06. Coca-Cola had a net margin of 25.69% and a return on equity of 41.84%. The business had revenue of $10.50 billion during the quarter, compared to analysts’ expectations of $9.83 billion. During the same quarter last year, the company earned $0.55 earnings per share. The firm’s revenue was up 16.7% on a year-over-year basis. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.47 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Tuesday, June 14th. Coca-Cola’s payout ratio is 73.95%.

Coca-Cola Profile (Get Rating)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

Further Reading

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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