Leavell Investment Management Inc. Cuts Stock Holdings in The Coca-Cola Company (NYSE:KO)

Leavell Investment Management Inc. lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,381 shares of the company’s stock after selling 302 shares during the quarter. Leavell Investment Management Inc.’s holdings in Coca-Cola were worth $4,278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Tidemark LLC acquired a new position in shares of Coca-Cola during the fourth quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Coca-Cola during the first quarter worth $28,000. Private Wealth Management Group LLC acquired a new position in shares of Coca-Cola during the fourth quarter worth $27,000. ZRC Wealth Management LLC grew its stake in shares of Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares in the last quarter. Finally, Criterion Capital Advisors LLC acquired a new position in shares of Coca-Cola during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, EVP Henrique Braun sold 57,298 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $63.08, for a total transaction of $3,614,357.84. Following the completion of the transaction, the executive vice president now directly owns 52,466 shares of the company’s stock, valued at $3,309,555.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction dated Monday, March 4th. The shares were 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 through the SEC website. Also, EVP Henrique Braun sold 57,298 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $63.08, for a total transaction of $3,614,357.84. Following the completion of the transaction, the executive vice president now directly owns 52,466 shares of the company’s stock, valued at $3,309,555.28. The disclosure for this sale can be found here. Insiders sold 199,389 shares of company stock valued at $12,322,179 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO traded down $0.90 during mid-day trading on Thursday, hitting $62.10. 9,833,498 shares of the company’s stock were exchanged, compared to its average volume of 13,435,620. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $63.76. The firm has a market capitalization of $267.52 billion, a P/E ratio of 24.89, a P/E/G ratio of 3.57 and a beta of 0.57. The business’s 50 day moving average is $61.00 and its two-hundred day moving average is $59.83. The company has a current ratio of 1.04, a quick ratio of 0.86 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 for the quarter, topping the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts expect that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued 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 yield of 3.12%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Analyst Upgrades and Downgrades

KO has been the subject of a number of analyst reports. Evercore ISI boosted their target price 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 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. 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. Barclays upped their price objective 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.58.

Coca-Cola 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.