Triangle Securities Wealth Management Trims Stock Position in The Coca-Cola Company (NYSE:KO)

Triangle Securities Wealth Management cut its stake in The Coca-Cola Company (NYSE:KO – Get Rating) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,637 shares of the company’s stock after selling 1,004 shares during the period. Triangle Securities Wealth Management’s holdings in Coca-Cola were worth $1,822,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Paragon Wealth Strategies LLC purchased a new stake in Coca-Cola in the third quarter valued at $25,000. Exos TFP Holdings LLC acquired a new position in Coca-Cola in the third quarter valued at $27,000. Horizons Wealth Management acquired a new position in Coca-Cola in the second quarter valued at $34,000. Neo Ivy Capital Management acquired a new position in Coca-Cola in the third quarter valued at $31,000. Finally, JDM Financial Group LLC acquired a new position in Coca-Cola in the fourth quarter valued at $42,000. 68.74% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

KO stock traded down $0.28 during trading on Friday, reaching $60.02. 27,351,227 shares of the company were exchanged, compared to its average volume of 14,212,403. The Coca-Cola Company has a 52-week low of $54.01 and a 52-week high of $67.20. The company has a market cap of $259.66 billion, a P/E ratio of 27.28, a PEG ratio of 3.47 and a beta of 0.53. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.93 and a current ratio of 1.15. The stock’s 50 day moving average price is $60.27 and its 200 day moving average price is $60.41.

Coca-Cola (NYSE:KO – Get Rating) last announced its quarterly earnings results on Tuesday, February 14th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. Coca-Cola had a net margin of 22.19% and a return on equity of 42.35%. The company had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $9.92 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, analysts predict that The Coca-Cola Company will post 2.6 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 17th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Thursday, March 16th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.44. Coca-Cola’s dividend payout ratio is 83.64%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KO. Credit Suisse Group set a $70.00 price objective on shares of Coca-Cola in a research note on Wednesday, February 15th. UBS Group lifted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, February 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Coca-Cola from $62.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, February 15th. Citigroup assumed coverage on shares of Coca-Cola in a research note on Thursday, February 16th. They set a “buy” rating and a $68.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on shares of Coca-Cola from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 15th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.70.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Brian John Smith sold 126,972 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $62.07, for a total value of $7,881,152.04. Following the sale, the insider now owns 116,168 shares of the company’s stock, valued at $7,210,547.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO James Quincey sold 34,875 shares of the company’s stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $60.32, for a total transaction of $2,103,660.00. Following the transaction, the chief executive officer now owns 351,737 shares of the company’s stock, valued at $21,216,775.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian John Smith sold 126,972 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $62.07, for a total transaction of $7,881,152.04. Following the transaction, the insider now directly owns 116,168 shares in the company, valued at approximately $7,210,547.76. The disclosure for this sale can be found here. Insiders have sold 282,268 shares of company stock valued at $17,137,823 over the last quarter. Corporate insiders own 0.98% of the company’s stock.

Coca-Cola Profile

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The Coca-Cola Co engages in the manufacturing and marketing of non-alcoholic beverages. It operates through the following segments: Europe, Middle East and Africa, Latin America, North America, Asia Pacific, Global Ventures, and Bottling Investments. The company was founded by Asa Griggs Candler on May 8, 1886 and is headquartered in Atlanta, GA.