Fiduciary Group LLC Lowers Stock Holdings in The Coca-Cola Company (NYSE:KO)

Fiduciary Group LLC lessened its holdings in The Coca-Cola Company (NYSE:KO) by 1.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 116,673 shares of the company’s stock after selling 2,037 shares during the period. Fiduciary Group LLC’s holdings in Coca-Cola were worth $7,426,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Millennium Group LLC purchased a new stake in shares of Coca-Cola during the second quarter worth about $26,000. Tidemark LLC bought a new position in Coca-Cola in the 4th quarter worth approximately $26,000. ESL Trust Services LLC purchased a new stake in Coca-Cola during the 1st quarter valued at approximately $28,000. Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola during the first quarter valued at approximately $28,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Coca-Cola in the fourth quarter worth $27,000. 70.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KO. Citigroup lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Morgan Stanley upped their price target on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Royal Bank of Canada upped their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $70.73.

Insider Transactions at Coca-Cola

In related news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 18,482 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 974,715 shares of company stock valued at $579,704,927. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.3 %

Shares of KO opened at $71.41 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The firm has a market capitalization of $307.77 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 3.93 and a beta of 0.60. The company has a 50-day moving average of $68.28 and a 200 day moving average of $63.90. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 EPS. On average, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is 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.