Jackson Wealth Management LLC Trims Stake in The Coca-Cola Company (NYSE:KO)

Jackson Wealth Management LLC lowered its position in The Coca-Cola Company (NYSE:KO) by 41.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,267 shares of the company’s stock after selling 22,504 shares during the quarter. Jackson Wealth Management LLC’s holdings in Coca-Cola were worth $1,990,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tidemark LLC purchased a new position in Coca-Cola in the 4th quarter worth about $26,000. Private Wealth Management Group LLC bought a new position in Coca-Cola during the 4th quarter worth about $27,000. Redmont Wealth Advisors LLC bought a new position in Coca-Cola during the 1st quarter worth about $28,000. ESL Trust Services LLC bought a new position in Coca-Cola during the 1st quarter worth about $28,000. Finally, Criterion Capital Advisors LLC bought a new position in Coca-Cola during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 2.0 %

Shares of KO stock traded up $1.37 on Friday, hitting $69.33. 22,514,775 shares of the stock traded hands, compared to its average volume of 12,301,018. The firm’s 50-day moving average price is $64.00 and its two-hundred day moving average price is $61.76. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The stock has a market capitalization of $298.80 billion, a PE ratio of 27.73, a PEG ratio of 3.80 and a beta of 0.59. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $69.67.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS. As a group, analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.80%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the sale, the executive vice president now directly owns 33,638 shares in the company, valued at $2,129,621.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 167,107 shares in the company, valued at $10,358,962.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Monica Howard Douglas sold 8,874 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $63.31, for a total transaction of $561,812.94. Following the sale, the executive vice president now owns 33,638 shares in the company, valued at $2,129,621.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 879,375 shares of company stock worth $571,502,245. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays raised their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. 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 target price for the company. Morgan Stanley lifted their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Evercore ISI lifted their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, UBS Group lifted their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.20.

Coca-Cola 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.