Allen Mooney & Barnes Investment Advisors LLC Trims Holdings in The Coca-Cola Company (NYSE:KO)

Allen Mooney & Barnes Investment Advisors LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 41,197 shares of the company’s stock after selling 185 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Coca-Cola were worth $2,951,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in KO. Voleon Capital Management LP purchased a new position in Coca-Cola during the 4th quarter valued at about $2,513,000. Clark Capital Management Group Inc. lifted its position in shares of Coca-Cola by 31.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock worth $52,851,000 after purchasing an additional 204,681 shares in the last quarter. Alphinity Investment Management Pty Ltd boosted its stake in shares of Coca-Cola by 8.1% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company’s stock valued at $652,767,000 after purchasing an additional 783,161 shares during the period. StoneX Group Inc. grew its holdings in shares of Coca-Cola by 80.0% in the fourth quarter. StoneX Group Inc. now owns 51,775 shares of the company’s stock valued at $3,224,000 after purchasing an additional 23,009 shares in the last quarter. Finally, Fortress Financial Group LLC purchased a new stake in Coca-Cola during the 4th quarter worth approximately $416,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was 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, CFO John Murphy sold 88,658 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the transaction, the chief financial officer now directly owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock worth $29,923,985 over the last 90 days. 0.97% of the stock is currently owned by insiders.

Analysts Set New Price Targets

KO has been the subject of several recent research reports. Wells Fargo & Company raised their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Cfra Research upgraded Coca-Cola to a “strong-buy” rating in a report on Tuesday, April 15th. Morgan Stanley restated an “overweight” rating and set a $81.00 price target on shares of Coca-Cola in a report on Monday. UBS Group lifted their price objective on Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Finally, Barclays restated an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $76.00.

Coca-Cola Trading Down 0.4%

Shares of Coca-Cola stock opened at $72.03 on Thursday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The company has a market capitalization of $310.02 billion, a P/E ratio of 29.16, a PEG ratio of 3.79 and a beta of 0.46. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company’s fifty day moving average is $71.42 and its two-hundred day moving average is $67.74.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. Analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

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 issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s payout ratio is currently 81.60%.

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.