KRS Capital Management LLC Sells 1,013 Shares of The Coca-Cola Company (NYSE:KO)

KRS Capital Management LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 21.8% during the first quarter, HoldingsChannel reports. The firm owned 3,632 shares of the company’s stock after selling 1,013 shares during the quarter. KRS Capital Management LLC’s holdings in Coca-Cola were worth $222,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Westfield Capital Management Co. LP lifted its position in Coca-Cola by 6.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 147,185 shares of the company’s stock worth $8,239,000 after buying an additional 9,129 shares in the last quarter. Cape Cod Five Cents Savings Bank increased its stake in shares of Coca-Cola by 104.8% during the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 20,370 shares of the company’s stock worth $1,140,000 after purchasing an additional 10,422 shares during the last quarter. CWA Asset Management Group LLC increased its stake in shares of Coca-Cola by 8.9% during the 3rd quarter. CWA Asset Management Group LLC now owns 7,882 shares of the company’s stock worth $441,000 after purchasing an additional 644 shares during the last quarter. Teza Capital Management LLC increased its stake in shares of Coca-Cola by 89.1% during the 3rd quarter. Teza Capital Management LLC now owns 232,309 shares of the company’s stock worth $13,005,000 after purchasing an additional 109,469 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Coca-Cola during the 3rd quarter worth about $2,529,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Price Performance

Shares of Coca-Cola stock traded down $0.26 on Friday, reaching $63.65. 17,358,827 shares of the stock were exchanged, compared to its average volume of 11,241,235. The firm’s 50 day moving average is $62.72 and its 200-day moving average is $60.77. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.36. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The firm has a market cap of $274.20 billion, a PE ratio of 25.46, a P/E/G ratio of 3.61 and a beta of 0.59.

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

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.05%. The ex-dividend date is Friday, June 14th. Coca-Cola’s payout ratio is 77.60%.

Insider Activity at Coca-Cola

In related news, EVP Monica Howard Douglas sold 8,874 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Monica Howard Douglas sold 8,874 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Beatriz R. Perez sold 57,298 shares of the company’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 transaction of $3,551,903.02. Following the completion of the transaction, 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. Insiders sold a total of 223,665 shares of company stock valued at $13,995,465 in the last quarter. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of several recent analyst reports. Barclays boosted their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. BNP Paribas started coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Evercore ISI upped their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Morgan Stanley upped their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, Argus upped their price target 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 22nd. 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 a consensus target price of $68.83.

About Coca-Cola

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.