Griffin Asset Management Inc. Has $10.37 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Griffin Asset Management Inc. reduced its holdings in The Coca-Cola Company (NYSE:KO) by 0.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 169,435 shares of the company’s stock after selling 1,069 shares during the quarter. Coca-Cola makes up about 1.2% of Griffin Asset Management Inc.’s portfolio, making the stock its 22nd largest holding. Griffin Asset Management Inc.’s holdings in Coca-Cola were worth $10,366,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of KO. Patrick M Sweeney & Associates Inc. acquired a new position in shares of Coca-Cola in the 4th quarter worth approximately $410,000. Beacon Pointe Advisors LLC boosted its position in Coca-Cola by 24.7% during the fourth quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock valued at $26,549,000 after acquiring an additional 89,139 shares during the last quarter. Insigneo Advisory Services LLC boosted its position in Coca-Cola by 12.2% during the third quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock valued at $2,354,000 after acquiring an additional 4,527 shares during the last quarter. Birchcreek Wealth Management LLC grew its holdings in Coca-Cola by 12.6% during the 4th quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock worth $267,000 after acquiring an additional 507 shares during the period. Finally, Wahed Invest LLC raised its position in shares of Coca-Cola by 10.3% in the 3rd quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock worth $3,435,000 after acquiring an additional 5,707 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Morgan Stanley increased their price objective 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. Barclays boosted their target price on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Argus increased their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Finally, Evercore ISI boosted their price objective on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $68.83.

Insider Buying and Selling

In other news, EVP Monica Howard Douglas sold 8,874 shares of Coca-Cola stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the sale, the executive vice president now owns 33,638 shares in the company, valued at approximately $2,129,621.78. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Monica Howard Douglas sold 8,874 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the sale, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 223,665 shares of company stock worth $13,995,465. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE KO traded down $0.26 during midday trading on Friday, hitting $63.65. The company’s stock had a trading volume of 17,358,827 shares, compared to its average volume of 11,241,235. The firm has a market capitalization of $274.20 billion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 3.61 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. The stock has a fifty day moving average price of $62.72 and a 200 day moving average price of $60.77. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.36.

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

Coca-Cola Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.05%. Coca-Cola’s payout ratio is currently 77.60%.

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.