Salem Investment Counselors Inc. lessened its position in shares of The Coca-Cola Co (NYSE:KO) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,540 shares of the company’s stock after selling 1,600 shares during the quarter. Salem Investment Counselors Inc.’s holdings in The Coca-Cola were worth $6,039,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Mraz Amerine & Associates Inc. raised its position in shares of The Coca-Cola by 0.4% during the fourth quarter. Mraz Amerine & Associates Inc. now owns 47,568 shares of the company’s stock worth $2,252,000 after acquiring an additional 208 shares during the last quarter. Reynders McVeigh Capital Management LLC raised its position in shares of The Coca-Cola by 0.9% during the third quarter. Reynders McVeigh Capital Management LLC now owns 22,977 shares of the company’s stock worth $1,061,000 after acquiring an additional 213 shares during the last quarter. Cordasco Financial Network raised its position in shares of The Coca-Cola by 26.1% during the fourth quarter. Cordasco Financial Network now owns 1,034 shares of the company’s stock worth $49,000 after acquiring an additional 214 shares during the last quarter. Windsor Group LTD raised its position in shares of The Coca-Cola by 1.7% during the fourth quarter. Windsor Group LTD now owns 13,672 shares of the company’s stock worth $647,000 after acquiring an additional 222 shares during the last quarter. Finally, United Capital Management of KS Inc. raised its position in shares of The Coca-Cola by 2.3% during the fourth quarter. United Capital Management of KS Inc. now owns 10,020 shares of the company’s stock worth $474,000 after acquiring an additional 229 shares during the last quarter. 67.99% of the stock is currently owned by institutional investors.
In other news, VP Bernhard Goepelt sold 13,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $48.96, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president now directly owns 151,504 shares of the company’s stock, valued at $7,417,635.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Beatriz R. Perez sold 14,094 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $49.50, for a total value of $697,653.00. Following the transaction, the senior vice president now directly owns 108,551 shares of the company’s stock, valued at $5,373,274.50. The disclosure for this sale can be found here. Insiders have sold 66,840 shares of company stock valued at $3,257,201 over the last ninety days. 1.33% of the stock is owned by insiders.
KO has been the subject of a number of recent research reports. Zacks Investment Research upgraded The Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Wednesday, May 8th. Goldman Sachs Group restated a “neutral” rating and set a $47.00 target price on shares of The Coca-Cola in a research report on Thursday, February 14th. UBS Group lifted their price objective on The Coca-Cola from $50.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Citigroup cut The Coca-Cola from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $56.00 to $50.00 in a research note on Thursday, February 14th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $56.00 price objective on shares of The Coca-Cola in a research note on Wednesday, February 13th. Fourteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The Coca-Cola currently has a consensus rating of “Hold” and a consensus target price of $51.20.
NYSE:KO traded up $1.05 on Wednesday, reaching $49.65. The company’s stock had a trading volume of 15,487,737 shares, compared to its average volume of 14,988,520. The Coca-Cola Co has a 1-year low of $41.93 and a 1-year high of $50.84. The company has a current ratio of 1.02, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. The stock has a market cap of $209.88 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 3.31 and a beta of 0.53.
The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $8 billion during the quarter, compared to analysts’ expectations of $7.89 billion. The Coca-Cola had a return on equity of 45.12% and a net margin of 20.91%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 earnings per share. Sell-side analysts forecast that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.60 annualized dividend and a dividend yield of 3.22%. The Coca-Cola’s dividend payout ratio is currently 76.92%.
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About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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