The Coca-Cola Company (NYSE:KO) Shares Sold by ForthRight Wealth Management LLC

ForthRight Wealth Management LLC cut its position in The Coca-Cola Company (NYSE:KO) by 21.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 4,197 shares of the company’s stock after selling 1,173 shares during the period. ForthRight Wealth Management LLC’s holdings in Coca-Cola were worth $301,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of KO. Crowley Wealth Management Inc. acquired a new stake in shares of Coca-Cola in the fourth quarter valued at $27,000. Mainstream Capital Management LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at $31,000. REAP Financial Group LLC grew its stake in shares of Coca-Cola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after buying an additional 208 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Coca-Cola in the fourth quarter valued at $38,000. Finally, Hoey Investments Inc. grew its stake in shares of Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after buying an additional 181 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Trading Down 0.4%

NYSE:KO opened at $72.03 on Thursday. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The stock has a market cap of $310.02 billion, a P/E ratio of 29.16, a P/E/G ratio of 3.79 and a beta of 0.46. The stock has a 50-day simple moving average of $71.42 and a 200-day simple moving average of $67.74.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS. As a group, analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.83%. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

Analyst Ratings Changes

Several research analysts recently commented on KO shares. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday, February 13th. Royal Bank of Canada boosted their target price on Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Evercore ISI boosted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Barclays reissued an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Finally, UBS Group boosted their target price on Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $76.00.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the sale, the chief executive officer now directly owns 275,946 shares of the company’s stock, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the sale, the chief financial officer now directly owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock valued at $29,923,985 in the last three months. 0.97% of the stock is currently owned by company 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.