First Horizon Advisors Inc. Reduces Stock Position in The Coca-Cola Company (NYSE:KO)

First Horizon Advisors Inc. lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,506 shares of the company’s stock after selling 4,480 shares during the quarter. First Horizon Advisors Inc.’s holdings in Coca-Cola were worth $9,164,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Insigneo Advisory Services LLC increased its position in Coca-Cola by 12.2% during the 3rd quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock worth $2,354,000 after purchasing an additional 4,527 shares in the last quarter. Birchcreek Wealth Management LLC grew its holdings in Coca-Cola by 12.6% in the 4th quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock valued at $267,000 after buying an additional 507 shares during the period. HF Advisory Group LLC grew its holdings in Coca-Cola by 7.6% in the 3rd quarter. HF Advisory Group LLC now owns 6,770 shares of the company’s stock valued at $379,000 after buying an additional 476 shares during the period. Wahed Invest LLC grew its holdings in Coca-Cola by 10.3% in the 3rd quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock valued at $3,435,000 after buying an additional 5,707 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO grew its holdings in Coca-Cola by 3.2% in the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 46,470 shares of the company’s stock valued at $2,738,000 after buying an additional 1,455 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $26,968,753.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO James Quincey sold 247,188 shares of the stock in a transaction 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 directly owns 442,546 shares in the company, valued at $26,968,753.24. The disclosure for this sale can be found here. Insiders have sold 323,107 shares of company stock worth $19,657,742 over the last ninety days. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Up 0.3 %

Shares of KO traded up $0.18 during trading on Friday, reaching $62.18. The company’s stock had a trading volume of 11,627,983 shares, compared to its average volume of 14,021,238. The company has a fifty day moving average of $60.22 and a two-hundred day moving average of $59.06. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.25. The company has a market cap of $268.05 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 3.54 and a beta of 0.57. The company has a quick ratio of 0.95, a current ratio of 1.04 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating 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 company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period in the prior year, the company posted $0.68 EPS. Coca-Cola’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts predict that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Wall Street Analyst Weigh In

Several research firms have commented on KO. UBS Group lifted their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup boosted their target price on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Barclays boosted their target price on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Evercore ISI boosted their target price on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $68.27.

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.