Strait & Sound Wealth Management LLC Decreases Holdings in The Coca-Cola Company (NYSE:KO)

Strait & Sound Wealth Management LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,201 shares of the company’s stock after selling 173 shares during the period. Strait & Sound Wealth Management LLC’s holdings in Coca-Cola were worth $492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Morgan Stanley boosted its stake in shares of Coca-Cola by 2.5% during the 3rd quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after acquiring an additional 1,950,146 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Coca-Cola by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock worth $3,501,789,000 after purchasing an additional 2,464,618 shares in the last quarter. Northern Trust Corp raised its position in shares of Coca-Cola by 4.8% during the third quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock valued at $2,514,234,000 after buying an additional 2,040,664 shares during the last quarter. Invesco Ltd. lifted its stake in Coca-Cola by 8.2% in the 3rd quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock worth $1,446,822,000 after purchasing an additional 1,963,963 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Coca-Cola by 5.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,171,216 shares of the company’s stock worth $894,028,000 after buying an additional 814,779 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Barclays upped their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. UBS Group raised their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Evercore ISI raised their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.27.

Coca-Cola Stock Down 0.5 %

Shares of KO stock traded down $0.29 during mid-day trading on Friday, hitting $63.03. 11,539,022 shares of the stock traded hands, compared to its average volume of 13,018,880. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $63.76. The stock has a market cap of $271.53 billion, a P/E ratio of 25.21, a P/E/G ratio of 3.60 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The stock’s fifty day moving average is $60.87 and its two-hundred day moving average is $59.68.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the firm posted $0.68 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts predict that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.08%. Coca-Cola’s payout ratio is 77.60%.

Insiders Place Their Bets

In other Coca-Cola news, EVP Henrique Braun sold 57,298 shares of Coca-Cola stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $63.08, for a total transaction of $3,614,357.84. Following the completion of the sale, the executive vice president now owns 52,466 shares of the company’s stock, valued at approximately $3,309,555.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Henrique Braun sold 57,298 shares of Coca-Cola stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $63.08, for a total value of $3,614,357.84. Following the transaction, the executive vice president now owns 52,466 shares of the company’s stock, valued at approximately $3,309,555.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 446,577 shares of company stock valued at $27,385,816. Insiders own 0.97% of the company’s stock.

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.