Moreno Evelyn V Reduces Stake in The Coca-Cola Company (NYSE:KO)

Moreno Evelyn V trimmed its stake in The Coca-Cola Company (NYSE:KO) by 66.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,156 shares of the company’s stock after selling 71,068 shares during the quarter. Moreno Evelyn V’s holdings in Coca-Cola were worth $2,072,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ZRC Wealth Management LLC increased its holdings in Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the period. Tidemark LLC bought a new position in shares of Coca-Cola in the 4th quarter worth $26,000. Private Wealth Management Group LLC bought a new position in shares of Coca-Cola in the 4th quarter worth $27,000. Criterion Capital Advisors LLC bought a new position in shares of Coca-Cola in the 4th quarter worth $30,000. Finally, Frazier Financial Advisors LLC bought a new position in shares of Coca-Cola in the 4th quarter worth $31,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bruno Pietracci sold 18,551 shares of Coca-Cola 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 disclosure for this sale can be found here. Insiders have sold 199,389 shares of company stock worth $12,322,179 in the last three months. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their price objective on shares of 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. raised their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Evercore ISI lifted their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Argus lifted their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays lifted their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.58.

Coca-Cola Stock Down 0.7 %

Coca-Cola stock traded down $0.47 during trading on Thursday, reaching $62.53. The stock had a trading volume of 3,852,241 shares, compared to its average volume of 13,373,728. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $63.76. The business has a 50 day moving average price of $61.00 and a 200 day moving average price of $59.83. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The stock has a market cap of $269.38 billion, a PE ratio of 25.12, a P/E/G ratio of 3.57 and a beta of 0.57.

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

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.10%. Coca-Cola’s payout ratio is currently 77.60%.

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.