Financial Management Professionals Inc. Boosts Stock Holdings in The Coca-Cola Company (NYSE:KO)

Financial Management Professionals Inc. grew its position in shares of The Coca-Cola Company (NYSE:KO) by 14.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,670 shares of the company’s stock after acquiring an additional 1,321 shares during the quarter. Financial Management Professionals Inc.’s holdings in Coca-Cola were worth $653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Enterprise Bank & Trust Co raised its holdings in Coca-Cola by 3.4% in the fourth quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock worth $296,000 after purchasing an additional 167 shares in the last quarter. Goelzer Investment Management Inc. raised its holdings in Coca-Cola by 1.8% in the fourth quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock worth $571,000 after purchasing an additional 169 shares in the last quarter. Elk River Wealth Management LLC raised its holdings in Coca-Cola by 1.6% in the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after purchasing an additional 170 shares in the last quarter. KRS Capital Management LLC raised its holdings in Coca-Cola by 3.8% in the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock worth $274,000 after purchasing an additional 170 shares in the last quarter. Finally, Wayfinding Financial LLC raised its holdings in Coca-Cola by 1.8% in the fourth quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock worth $573,000 after purchasing an additional 175 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KO shares. Morgan Stanley increased their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, June 14th. UBS Group increased their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Evercore ISI increased their target price on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, Argus increased their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.83.

Coca-Cola Price Performance

NYSE KO opened at $63.65 on Friday. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.36. The stock has a 50-day moving average of $62.72 and a 200 day moving average of $60.77. The company has a market capitalization of $274.20 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 3.61 and a beta of 0.59. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period last year, the company earned $0.68 EPS. Coca-Cola’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Announces Dividend

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

Insider Buying and Selling

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the sale, the insider now directly owns 218,880 shares in the company, valued at approximately $13,644,979.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 167,107 shares in the company, valued at approximately $10,358,962.93. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the sale, the insider now owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 223,665 shares of company stock worth $13,995,465. 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.