Zhang Financial LLC Sells 715 Shares of The Coca-Cola Company (NYSE:KO)

Zhang Financial LLC trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 6.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 10,823 shares of the company’s stock after selling 715 shares during the quarter. Zhang Financial LLC’s holdings in Coca-Cola were worth $638,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Freedom Wealth Alliance LLC bought a new stake in shares of Coca-Cola during the 4th quarter valued at $25,000. ZRC Wealth Management LLC lifted its position in shares of Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after buying an additional 320 shares during the last quarter. Fortis Capital Advisors LLC bought a new stake in shares of Coca-Cola during the 4th quarter worth $30,000. KB Financial Partners LLC bought a new stake in shares of Coca-Cola during the 1st quarter worth $31,000. Finally, Retirement Group LLC lifted its position in shares of Coca-Cola by 51.5% during the 4th quarter. Retirement Group LLC now owns 550 shares of the company’s stock worth $35,000 after buying an additional 187 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Price Performance

Shares of KO opened at $60.17 on Friday. The stock has a market cap of $259.40 billion, a PE ratio of 24.26, a PEG ratio of 3.37 and a beta of 0.59. The business has a 50-day simple moving average of $59.94 and a two-hundred day simple moving average of $58.56. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.99.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The company had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Analysts anticipate that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.485 dividend. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.22%. Coca-Cola’s dividend payout ratio is presently 78.23%.

Insider Activity

In other news, EVP Beatriz R. Perez sold 52,300 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the sale, the executive vice president now owns 143,383 shares of the company’s stock, valued at $8,602,980. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Beatriz R. Perez sold 52,300 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total value of $3,138,000.00. Following the sale, the executive vice president now owns 143,383 shares in the company, valued at approximately $8,602,980. The disclosure for this sale can be found here. Over the last quarter, insiders sold 375,407 shares of company stock valued at $22,795,742. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on KO shares. Barclays upped their price objective on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. dropped their price objective on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Citigroup upped their target price on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $67.09.

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.