Janney Capital Management LLC Has $3.05 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Janney Capital Management LLC lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 49,788 shares of the company’s stock after selling 2,024 shares during the quarter. Janney Capital Management LLC’s holdings in Coca-Cola were worth $3,046,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Coca-Cola during the fourth quarter worth about $2,808,056,000. Fisher Asset Management LLC increased its position in Coca-Cola by 11,138.6% during the fourth quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock worth $293,343,000 after acquiring an additional 4,933,527 shares during the period. Pathstone Holdings LLC bought a new position in Coca-Cola during the fourth quarter worth about $193,342,000. Putnam Investments LLC increased its position in Coca-Cola by 32.8% during the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after acquiring an additional 2,973,234 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Coca-Cola by 7.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 40,564,179 shares of the company’s stock worth $2,390,448,000 after acquiring an additional 2,893,061 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.7 %

NYSE:KO traded up $0.43 during mid-day trading on Friday, hitting $63.76. 11,735,460 shares of the company’s stock were exchanged, compared to its average volume of 10,543,850. The company has a 50 day simple moving average of $62.93 and a 200-day simple moving average of $60.91. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.36. The firm has a market capitalization of $274.68 billion, a P/E ratio of 25.50, a PEG ratio of 3.58 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 30th. The company reported $0.72 EPS 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 for the quarter, compared to the consensus estimate of $11.01 billion. During the same period last year, the company earned $0.68 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, research analysts expect that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a dividend of $0.485 per share. The ex-dividend date was Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.04%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Insider Transactions at Coca-Cola

In other news, 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 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The sale was disclosed in a 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 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 transaction, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 822,284 shares of company stock worth $567,718,040. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on KO shares. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Argus raised their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Morgan Stanley raised their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, June 10th. BNP Paribas started coverage on shares of Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price on the stock. Finally, Evercore ISI raised their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.83.

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.