TFC Financial Management Inc. Lowers Holdings in CocaCola Company (The) (NYSE:KO)

TFC Financial Management Inc. cut its stake in shares of CocaCola Company (The) (NYSE:KO) by 9.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,144 shares of the company’s stock after selling 440 shares during the quarter. TFC Financial Management Inc.’s holdings in CocaCola were worth $297,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Garde Capital Inc. purchased a new stake in CocaCola during the 1st quarter valued at about $30,000. Crowley Wealth Management Inc. bought a new position in shares of CocaCola in the fourth quarter worth approximately $27,000. Mizuho Securities Co. Ltd. grew its holdings in shares of CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 360 shares during the last quarter. Moser Wealth Advisors LLC increased its position in shares of CocaCola by 449.5% during the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $36,000 after acquiring an additional 409 shares in the last quarter. Finally, Mainstream Capital Management LLC bought a new stake in shares of CocaCola during the fourth quarter valued at approximately $31,000. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at CocaCola

In other CocaCola news, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 205,511 shares of the company’s stock, valued at $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer now owns 275,946 shares of the company’s stock, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 415,387 shares of company stock worth $29,923,985. Corporate insiders own 0.97% of the company’s stock.

CocaCola Price Performance

NYSE KO opened at $69.51 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $299.20 billion, a P/E ratio of 27.80, a PEG ratio of 3.65 and a beta of 0.46. The company has a 50-day moving average price of $71.31 and a 200-day moving average price of $68.23. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The firm’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 earnings per share. Equities research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.93%. CocaCola’s dividend payout ratio is currently 81.60%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on KO shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. JPMorgan Chase & Co. boosted their price target on CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. UBS Group upped their price target on CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Royal Bank Of Canada increased their price objective on CocaCola from $73.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Finally, Cfra Research raised CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $76.27.

About CocaCola

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.