Ballast Advisors LLC Reduces Holdings in The Coca-Cola Company (NYSE:KO)

Ballast Advisors LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 25.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,919 shares of the company’s stock after selling 4,467 shares during the quarter. Ballast Advisors LLC’s holdings in Coca-Cola were worth $761,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Castleview Partners LLC raised its holdings in Coca-Cola by 4.4% in the 1st quarter. Castleview Partners LLC now owns 3,973 shares of the company’s stock valued at $246,000 after acquiring an additional 167 shares during the last quarter. Enterprise Bank & Trust Co grew its holdings in shares of Coca-Cola by 3.4% during the 4th 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 increased its position in Coca-Cola by 1.6% during the 4th quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after purchasing an additional 170 shares in the last quarter. KRS Capital Management LLC lifted its position in Coca-Cola by 3.8% during the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after buying an additional 170 shares in the last quarter. Finally, Somerville Kurt F grew its stake in Coca-Cola by 0.8% during the first quarter. Somerville Kurt F now owns 21,377 shares of the company’s stock worth $1,325,000 after buying an additional 172 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, CEO James Quincey sold 247,188 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Beatriz R. Perez sold 52,300 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the transaction, the executive vice president now directly owns 143,383 shares in the company, valued at $8,602,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 375,407 shares of company stock valued at $22,795,742. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Up 0.6 %

Shares of KO stock traded up $0.37 during mid-day trading on Monday, reaching $58.65. 3,052,221 shares of the company were exchanged, compared to its average volume of 13,718,128. The company has a market capitalization of $252.85 billion, a P/E ratio of 23.61, a P/E/G ratio of 3.31 and a beta of 0.59. The business’s 50 day simple moving average is $60.05 and its 200 day simple moving average is $58.49. 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 Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.99.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. The company had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 EPS. Research analysts predict that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.485 dividend. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Thursday, March 14th. Coca-Cola’s payout ratio is presently 78.23%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Citigroup boosted their price objective on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, Barclays raised their target price on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.18.

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.