IRON Financial LLC Sells 266 Shares of The Coca-Cola Company (NYSE:KO)

IRON Financial LLC cut its stake in The Coca-Cola Company (NYSE:KOFree Report) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,783 shares of the company’s stock after selling 266 shares during the period. IRON Financial LLC’s holdings in Coca-Cola were worth $576,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KO. Hibernia Wealth Partners LLC bought a new position in shares of Coca-Cola in the third quarter worth about $25,000. Freedom Wealth Alliance LLC bought a new position in Coca-Cola during the 4th quarter worth about $25,000. ZRC Wealth Management LLC boosted its holdings in shares of Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after buying an additional 320 shares in the last quarter. Fortis Capital Advisors LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at about $30,000. Finally, KB Financial Partners LLC bought a new stake in shares of Coca-Cola in the 1st quarter valued at about $31,000. 70.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction on Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The disclosure for this sale can be found here. Insiders sold a total of 375,407 shares of company stock valued at $22,795,742 in the last three months. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Citigroup raised their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Barclays increased their price objective on shares of Coca-Cola from $60.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Check Out Our Latest Stock Report on Coca-Cola

Coca-Cola Stock Performance

KO opened at $61.18 on Monday. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.99. 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 firm has a market capitalization of $263.76 billion, a PE ratio of 24.67, a P/E/G ratio of 3.47 and a beta of 0.59. The firm has a 50 day moving average of $60.10 and a two-hundred day moving average of $58.36.

Coca-Cola (NYSE:KOGet Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The company had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same period last year, the firm posted $0.45 EPS. Coca-Cola’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, analysts anticipate that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.17%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, March 14th. Coca-Cola’s payout ratio is 78.23%.

About Coca-Cola

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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