Brooks Moore & Associates Inc. Cuts Position in The Coca-Cola Co (NYSE:KO)

Brooks Moore & Associates Inc. reduced its stake in The Coca-Cola Co (NYSE:KO) by 20.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,562 shares of the company’s stock after selling 10,300 shares during the period. The Coca-Cola makes up about 1.7% of Brooks Moore & Associates Inc.’s investment portfolio, making the stock its 23rd biggest holding. Brooks Moore & Associates Inc.’s holdings in The Coca-Cola were worth $1,854,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prime Capital Investment Advisors LLC acquired a new position in The Coca-Cola in the first quarter worth approximately $28,000. Orrstown Financial Services Inc. grew its position in The Coca-Cola by 230.8% in the first quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after buying an additional 517 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new position in The Coca-Cola in the first quarter worth approximately $35,000. Transamerica Financial Advisors Inc. grew its position in The Coca-Cola by 567.7% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 848 shares of the company’s stock worth $41,000 after buying an additional 721 shares during the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in The Coca-Cola in the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 66.83% of the company’s stock.

A number of brokerages have issued reports on KO. Zacks Investment Research raised shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Tuesday, June 4th. Royal Bank of Canada reissued a “buy” rating and set a $56.00 target price on shares of The Coca-Cola in a research report on Wednesday, February 13th. Barclays set a $54.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a research report on Thursday, May 16th. ValuEngine upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $47.00 target price on shares of The Coca-Cola in a research note on Tuesday, April 23rd. Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The Coca-Cola currently has an average rating of “Hold” and a consensus price target of $51.05.

In other news, SVP Beatriz R. Perez sold 14,094 shares of The Coca-Cola stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $49.50, for a total value of $697,653.00. Following the completion of the transaction, the senior vice president now owns 108,551 shares of the company’s stock, valued at approximately $5,373,274.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jennifer K. Mann sold 9,000 shares of The Coca-Cola stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $51.88, for a total value of $466,920.00. Following the completion of the transaction, the insider now directly owns 41,049 shares of the company’s stock, valued at approximately $2,129,622.12. The disclosure for this sale can be found here. Insiders sold 316,600 shares of company stock valued at $15,760,365 in the last ninety days. 1.33% of the stock is currently owned by insiders.

Shares of The Coca-Cola stock opened at $51.64 on Thursday. The Coca-Cola Co has a 12-month low of $42.96 and a 12-month high of $52.19. The stock has a market capitalization of $219.66 billion, a PE ratio of 24.83, a PEG ratio of 3.46 and a beta of 0.50. The company has a current ratio of 1.02, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48.

The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The Coca-Cola had a net margin of 20.91% and a return on equity of 45.12%. The business had revenue of $8 billion for the quarter, compared to analysts’ expectations of $7.89 billion. During the same period last year, the business earned $0.47 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts anticipate that The Coca-Cola Co will post 2.1 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Thursday, June 13th. The Coca-Cola’s payout ratio is 76.92%.

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The Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant–based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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