The Coca-Cola Company (NYSE:KO) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lowered its holdings in The Coca-Cola Company (NYSE:KO) by 21.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,223 shares of the company’s stock after selling 3,945 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Coca-Cola were worth $870,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ZRC Wealth Management LLC increased its stake in shares of Coca-Cola by 213.3% in the fourth 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 purchased a new stake in Coca-Cola during the fourth quarter worth $26,000. Private Wealth Management Group LLC purchased a new stake in Coca-Cola during the fourth quarter worth $27,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola during the first quarter worth $28,000. Finally, Criterion Capital Advisors LLC purchased a new stake in Coca-Cola during the fourth quarter worth $30,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the firm’s 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 owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 323,107 shares of company stock valued at $19,657,742. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. JPMorgan Chase & Co. lowered their price target on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Finally, Citigroup increased their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $67.22.

Coca-Cola Price Performance

KO traded down $0.28 during midday trading on Tuesday, hitting $61.76. 19,343,326 shares of the company traded hands, compared to its average volume of 14,053,786. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $266.26 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 3.53 and a beta of 0.59. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.69. The business has a 50 day simple moving average of $60.19 and a two-hundred day simple moving average of $59.02.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. On average, equities analysts forecast that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders 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 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Thursday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 78.23%.

About Coca-Cola

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.