The Coca-Cola Company (NYSE:KO) Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 9.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,349 shares of the company’s stock after selling 3,968 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Coca-Cola were worth $2,201,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of KO. Patriot Financial Group Insurance Agency LLC lifted its holdings in Coca-Cola by 2.1% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 17,294 shares of the company’s stock worth $968,000 after buying an additional 363 shares during the last quarter. Connecticut Wealth Management LLC lifted its holdings in Coca-Cola by 27.6% during the 3rd quarter. Connecticut Wealth Management LLC now owns 11,191 shares of the company’s stock worth $626,000 after buying an additional 2,424 shares during the last quarter. TFG Advisers LLC lifted its holdings in Coca-Cola by 4.5% during the 3rd quarter. TFG Advisers LLC now owns 25,479 shares of the company’s stock worth $1,426,000 after buying an additional 1,091 shares during the last quarter. Zullo Investment Group Inc. lifted its holdings in shares of Coca-Cola by 4.1% in the 3rd quarter. Zullo Investment Group Inc. now owns 18,332 shares of the company’s stock worth $1,026,000 after purchasing an additional 718 shares during the last quarter. Finally, Walkner Condon Financial Advisors LLC lifted its holdings in shares of Coca-Cola by 10.7% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 4,515 shares of the company’s stock worth $253,000 after purchasing an additional 436 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KO. Citigroup raised their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. JPMorgan Chase & Co. cut their price target on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Finally, Barclays lifted their target price on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $67.22.

Coca-Cola Stock Performance

Shares of KO stock remained flat at $61.74 during mid-day trading on Friday. The stock had a trading volume of 10,994,262 shares, compared to its average volume of 12,842,353. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.69. The stock has a market capitalization of $266.17 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. The stock’s fifty day simple moving average is $60.12 and its 200-day simple moving average is $58.82. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The company had revenue of $10.80 billion for the quarter, compared to analysts’ expectations of $10.68 billion. During the same period last year, the firm earned $0.45 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts forecast 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. Investors of record on Friday, March 15th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. Coca-Cola’s payout ratio is presently 78.23%.

Insider Buying and Selling

In related news, 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 value of $1,102,114.91. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Bruno Pietracci sold 18,551 shares of the firm’s 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was 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 directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Insiders have sold 375,407 shares of company stock worth $22,795,742 in the last three months. 0.97% of the stock is currently owned by insiders.

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.