Allen Mooney & Barnes Investment Advisors LLC Sells 6,373 Shares of 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 11.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,013 shares of the company’s stock after selling 6,373 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Coca-Cola were worth $3,012,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. ZRC Wealth Management LLC raised its stake in Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares during the period. Tidemark LLC purchased a new stake in shares of Coca-Cola during the 4th quarter valued at approximately $26,000. Private Wealth Management Group LLC bought a new position in Coca-Cola in the 4th quarter worth approximately $27,000. Criterion Capital Advisors LLC purchased a new position in Coca-Cola in the 4th quarter valued at approximately $30,000. Finally, Frazier Financial Advisors LLC bought a new stake in Coca-Cola during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 1.9 %

Coca-Cola stock opened at $63.98 on Tuesday. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.36. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The business’s fifty day simple moving average is $62.32 and its two-hundred day simple moving average is $60.65. The company has a market capitalization of $275.62 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 3.55 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.03%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insider Buying and Selling

In other news, EVP Monica Howard Douglas sold 8,874 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $63.31, for a total value of $561,812.94. Following the transaction, the executive vice president now owns 33,638 shares in the company, valued at approximately $2,129,621.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Monica Howard Douglas sold 8,874 shares of Coca-Cola stock in a transaction on Friday, May 10th. The stock was sold at an average price of $63.31, for a total transaction of $561,812.94. Following the transaction, the executive vice president now directly owns 33,638 shares in the company, valued at $2,129,621.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The disclosure for this sale can be found here. Insiders sold 223,665 shares of company stock valued at $13,995,465 over the last 90 days. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

KO has been the topic of a number of recent analyst reports. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. JPMorgan Chase & Co. lifted their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Morgan Stanley raised their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Barclays boosted their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, Argus raised their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.83.

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.