InTrack Investment Management Inc Has $730,000 Stock Position in The Coca-Cola Company (NYSE:KO)

InTrack Investment Management Inc lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,940 shares of the company’s stock after selling 473 shares during the quarter. InTrack Investment Management Inc’s holdings in Coca-Cola were worth $730,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Caxton Associates LP raised its stake in shares of Coca-Cola by 85.6% in the 3rd quarter. Caxton Associates LP now owns 6,945 shares of the company’s stock valued at $389,000 after purchasing an additional 3,203 shares during the period. Hodges Capital Management Inc. bought a new stake in Coca-Cola in the 3rd quarter valued at approximately $1,342,000. Alberta Investment Management Corp lifted its stake in Coca-Cola by 50.2% in the 3rd quarter. Alberta Investment Management Corp now owns 210,400 shares of the company’s stock valued at $11,778,000 after acquiring an additional 70,300 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Coca-Cola by 10.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 258,857 shares of the company’s stock worth $14,491,000 after acquiring an additional 24,772 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in shares of Coca-Cola by 220.1% during the 3rd quarter. Axxcess Wealth Management LLC now owns 134,447 shares of the company’s stock worth $7,526,000 after acquiring an additional 92,440 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on KO shares. Morgan Stanley increased their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. BNP Paribas initiated coverage on Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. JPMorgan Chase & Co. upped their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Argus raised their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Finally, Barclays upped their price objective on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.83.

Insider Activity

In other news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 223,665 shares of company stock valued at $13,995,465. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Performance

KO traded down $0.14 during trading hours on Tuesday, reaching $63.14. The company’s stock had a trading volume of 8,877,389 shares, compared to its average volume of 13,067,504. The company’s 50-day moving average is $62.77 and its 200-day moving average is $60.81. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.36. The firm has a market cap of $272.00 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 earnings per share. On average, equities analysts forecast that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, June 14th. Coca-Cola’s dividend payout ratio is presently 77.60%.

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.