Founders Capital Management Sells 4,478 Shares of The Coca-Cola Company (NYSE:KO)

Founders Capital Management lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 29.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,834 shares of the company’s stock after selling 4,478 shares during the period. Coca-Cola makes up about 0.5% of Founders Capital Management’s holdings, making the stock its 29th biggest position. Founders Capital Management’s holdings in Coca-Cola were worth $776,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Tallon Kerry Patrick purchased a new position in Coca-Cola in the 4th quarter worth approximately $241,000. Brighton Jones LLC grew its stake in Coca-Cola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after buying an additional 4,591 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Coca-Cola in the 4th quarter worth approximately $24,472,000. Revolve Wealth Partners LLC grew its stake in Coca-Cola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after buying an additional 293 shares in the last quarter. Finally, Hunter Associates Investment Management LLC grew its stake in Coca-Cola by 8.8% in the 4th quarter. Hunter Associates Investment Management LLC now owns 11,500 shares of the company’s stock worth $717,000 after buying an additional 927 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other news, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president now directly owns 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 55,500 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the completion of the sale, the insider now directly owns 246,909 shares of the company’s stock, valued at approximately $17,533,008.09. This represents a 18.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 229,761 shares of company stock valued at $16,474,587. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.9%

Shares of KO opened at $72.13 on Friday. The stock has a market capitalization of $310.47 billion, a P/E ratio of 29.20, a PEG ratio of 3.79 and a beta of 0.47. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The firm has a fifty day simple moving average of $71.35 and a two-hundred day simple moving average of $67.29. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 EPS. On average, research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.83%. Coca-Cola’s dividend payout ratio is 81.60%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KO. Evercore ISI upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company upped their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Royal Bank of Canada upped their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. UBS Group upped their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Finally, Piper Sandler upped their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $75.81.

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.