Carson Advisory Inc. Sells 980 Shares of CocaCola Company (The) (NYSE:KO)

Carson Advisory Inc. reduced its position in shares of CocaCola Company (The) (NYSE:KO) by 4.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,812 shares of the company’s stock after selling 980 shares during the period. CocaCola comprises about 1.1% of Carson Advisory Inc.’s investment portfolio, making the stock its 23rd biggest position. Carson Advisory Inc.’s holdings in CocaCola were worth $1,634,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC bought a new position in shares of CocaCola in the first quarter worth about $25,000. Crowley Wealth Management Inc. bought a new position in shares of CocaCola in the fourth quarter worth about $27,000. Garde Capital Inc. bought a new position in shares of CocaCola in the first quarter worth about $30,000. Mizuho Securities Co. Ltd. raised its stake in shares of CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after acquiring an additional 360 shares during the last quarter. Finally, REAP Financial Group LLC raised its stake in shares of CocaCola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after acquiring an additional 208 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

CocaCola Stock Up 2.0%

Shares of NYSE KO opened at $70.63 on Friday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The firm has a 50 day moving average price of $70.73 and a 200 day moving average price of $69.01. The stock has a market cap of $303.99 billion, a P/E ratio of 28.25, a P/E/G ratio of 3.63 and a beta of 0.45.

CocaCola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The business’s revenue was down .7% on a year-over-year basis. Analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.89%. CocaCola’s payout ratio is currently 81.60%.

Analyst Ratings Changes

A number of equities analysts have weighed in on KO shares. Royal Bank Of Canada boosted their target price on shares of CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Morgan Stanley reiterated an “overweight” rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. JPMorgan Chase & Co. lifted their price target on shares of CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Cfra Research upgraded shares of CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Finally, Barclays reiterated an “overweight” rating on shares of CocaCola in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $76.71.

Insider Buying and Selling at CocaCola

In other news, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the sale, the chief executive officer owned 275,946 shares of the company’s stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the sale, the chief financial officer directly owned 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is currently owned by corporate insiders.

CocaCola 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.