The Coca-Cola Company (NYSE:KO) Stake Reduced by Red Door Wealth Management LLC

Red Door Wealth Management LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,937 shares of the company’s stock after selling 623 shares during the period. Red Door Wealth Management LLC’s holdings in Coca-Cola were worth $547,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in KO. ZRC Wealth Management LLC increased its holdings 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 valued at $26,000 after acquiring an additional 320 shares during the last quarter. Tidemark LLC bought a new stake in Coca-Cola during the fourth quarter valued at about $26,000. Private Wealth Management Group LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $27,000. Criterion Capital Advisors LLC bought a new position in shares of Coca-Cola in the fourth quarter worth about $30,000. Finally, Frazier Financial Advisors LLC acquired a new position in shares of Coca-Cola during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KO. JPMorgan Chase & Co. raised their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. BNP Paribas began coverage on shares of Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Morgan Stanley raised their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Evercore ISI boosted their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $68.83.

Coca-Cola Price Performance

KO stock traded down $0.26 during trading on Friday, hitting $63.65. The company had a trading volume of 17,358,827 shares, compared to its average volume of 11,241,235. The company has a fifty day moving average price of $62.72 and a two-hundred day moving average price of $60.78. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.36. The company has a market cap of $274.20 billion, a P/E ratio of 25.46, a P/E/G ratio of 3.60 and a beta of 0.59. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the previous year, the company earned $0.68 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts expect that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Friday, June 14th. Coca-Cola’s payout ratio is currently 77.60%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the transaction, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of Coca-Cola stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $63.31, for a total value of $561,812.94. Following the transaction, the executive vice president now owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the transaction, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. Insiders have sold 223,665 shares of company stock valued at $13,995,465 in the last three months. 0.97% of the stock is owned by corporate insiders.

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.