Mayfair Advisory Group LLC Sells 602 Shares of CocaCola Company (The) (NYSE:KO)

Mayfair Advisory Group LLC decreased its position in shares of CocaCola Company (The) (NYSE:KO) by 3.4% during the 1st quarter, Holdings Channel reports. The fund owned 16,941 shares of the company’s stock after selling 602 shares during the quarter. Mayfair Advisory Group LLC’s holdings in CocaCola were worth $1,213,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of KO. Crowley Wealth Management Inc. acquired a new stake in shares of CocaCola during the fourth quarter worth about $27,000. Mainstream Capital Management LLC bought a new stake in CocaCola during the 4th quarter worth approximately $31,000. REAP Financial Group LLC raised its holdings in CocaCola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after buying an additional 208 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in CocaCola in the fourth quarter valued at approximately $38,000. Finally, Hoey Investments Inc. boosted its holdings in shares of CocaCola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after buying an additional 181 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were 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 directly owns 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the transaction, the chief financial officer now owns 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 415,387 shares of company stock worth $29,923,985. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KO. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Cfra Research raised CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. upped their price objective on CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Royal Bank Of Canada increased their price objective on CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, Barclays restated an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. Two equities research 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 stock. Based on data from MarketBeat, CocaCola currently has an average rating of “Buy” and an average price target of $76.00.

CocaCola Stock Down 1.3%

NYSE:KO opened at $69.61 on Wednesday. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The firm has a market capitalization of $299.61 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 3.70 and a beta of 0.46. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The stock’s 50 day moving average price is $71.60 and its two-hundred day moving average price is $67.95.

CocaCola (NYSE:KO) last announced its quarterly earnings data 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 company had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 EPS. Equities research analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.93%. CocaCola’s payout ratio is 81.60%.

About CocaCola

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.