Burns J W & Co. Inc. NY Decreases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Burns J W & Co. Inc. NY lessened its stake in The Coca-Cola Company (NYSE:KO) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 64,910 shares of the company’s stock after selling 1,752 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Coca-Cola were worth $3,971,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Patrick M Sweeney & Associates Inc. purchased a new position in shares of Coca-Cola during the 4th quarter worth $410,000. Beacon Pointe Advisors LLC lifted its holdings in shares of Coca-Cola by 24.7% in the 4th quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after acquiring an additional 89,139 shares during the last quarter. Insigneo Advisory Services LLC increased its holdings in Coca-Cola by 12.2% in the 3rd quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock valued at $2,354,000 after purchasing an additional 4,527 shares during the last quarter. Birchcreek Wealth Management LLC raised its position in Coca-Cola by 12.6% in the fourth quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock valued at $267,000 after purchasing an additional 507 shares during the period. Finally, Wahed Invest LLC lifted its stake in Coca-Cola by 10.3% during the third quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock worth $3,435,000 after purchasing an additional 5,707 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on KO. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Argus upped their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Morgan Stanley boosted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. UBS Group increased their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, BNP Paribas assumed coverage on Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $68.83.

Insider Buying and Selling

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the transaction, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the sale, the executive vice president now directly owns 167,107 shares in the company, valued at $10,358,962.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Monica Howard Douglas sold 8,874 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $63.31, for a total value of $561,812.94. Following the completion of the transaction, the executive vice president now owns 33,638 shares of the company’s stock, valued at approximately $2,129,621.78. The disclosure for this sale can be found here. Insiders sold a total of 223,665 shares of company stock valued at $13,995,465 over the last three months. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Performance

Shares of KO traded down $0.26 during mid-day trading on Friday, reaching $63.65. 17,358,827 shares of the company’s stock were exchanged, compared to its average volume of 11,241,235. The business’s fifty day simple moving average is $62.72 and its 200-day simple moving average is $60.77. The stock has a market capitalization of $274.20 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 3.61 and a beta of 0.59. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.36. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. 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 previous year, the business posted $0.68 earnings per share. Coca-Cola’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts expect that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders 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 dividend yield of 3.05%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

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.