Boltwood Capital Management Sells 295 Shares of The Coca-Cola Company (NYSE:KO)

Boltwood Capital Management trimmed its holdings in The Coca-Cola Company (NYSE:KO) by 1.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,255 shares of the company’s stock after selling 295 shares during the period. Boltwood Capital Management’s holdings in Coca-Cola were worth $1,880,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in KO. Crowley Wealth Management Inc. bought a new stake in shares of Coca-Cola during the 4th quarter worth $27,000. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola during the 4th quarter worth $31,000. REAP Financial Group LLC boosted its holdings in shares of Coca-Cola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after buying an additional 208 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in shares of Coca-Cola during the 4th quarter worth $38,000. Finally, Hoey Investments Inc. boosted its holdings in shares of Coca-Cola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after buying an additional 181 shares during the period. 70.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KO. Evercore ISI upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, February 13th. Barclays restated an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Finally, Morgan Stanley increased their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $75.81.

Coca-Cola Trading Up 0.3%

Shares of KO stock opened at $71.39 on Thursday. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a market cap of $307.28 billion, a price-to-earnings ratio of 28.90, a P/E/G ratio of 3.79 and a beta of 0.47. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The firm has a fifty day moving average of $71.41 and a 200-day moving average of $67.45.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter in the prior year, the company posted $0.72 EPS. The business’s revenue was down .7% on a year-over-year basis. On average, equities research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is currently 81.60%.

Insider Buying and Selling

In other Coca-Cola news, CFO John Murphy sold 88,658 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer now owns 205,511 shares of the company’s stock, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nikolaos Koumettis sold 55,500 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the completion of the transaction, the insider now directly owns 246,909 shares in the company, valued at $17,533,008.09. This trade represents a 18.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 496,164 shares of company stock worth $35,671,587 in the last quarter. 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.