Essex Financial Services Inc. Sells 400 Shares of The Coca-Cola Company (NYSE:KO)

Essex Financial Services Inc. lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,296 shares of the company’s stock after selling 400 shares during the quarter. Essex Financial Services Inc.’s holdings in Coca-Cola were worth $4,025,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Enterprise Bank & Trust Co increased its position in shares of 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 during the period. Elk River Wealth Management LLC grew its position 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 valued at $639,000 after acquiring an additional 170 shares during the last quarter. KRS Capital Management LLC raised its stake in Coca-Cola by 3.8% during the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock worth $274,000 after acquiring an additional 170 shares in the last quarter. Wayfinding Financial LLC raised its stake in Coca-Cola by 1.8% during the fourth quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock worth $573,000 after acquiring an additional 175 shares in the last quarter. Finally, John G Ullman & Associates Inc. raised its stake in Coca-Cola by 2.2% during the fourth quarter. John G Ullman & Associates Inc. now owns 8,081 shares of the company’s stock worth $476,000 after acquiring an additional 175 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Insiders sold 323,107 shares of company stock worth $19,657,742 over the last quarter. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Up 0.8 %

Shares of KO stock traded up $0.51 during mid-day trading on Wednesday, hitting $62.28. The company’s stock had a trading volume of 7,189,197 shares, compared to its average volume of 13,961,646. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.25. The business has a 50-day moving average price of $60.19 and a 200 day moving average price of $59.02. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The stock has a market cap of $268.50 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 3.54 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the previous year, the business earned $0.68 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. Research analysts predict that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.485 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.11%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is currently 78.23%.

Analysts Set New Price Targets

Several analysts have recently weighed in on KO shares. Evercore ISI boosted their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday. Citigroup boosted their price target on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Barclays upped their target price on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. UBS Group upped their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.18.

About Coca-Cola

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.