Franklin Resources Inc. Decreases Stake in The Coca-Cola Company (NYSE:KO)

Franklin Resources Inc. cut its stake in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 7.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,323,271 shares of the company’s stock after selling 271,357 shares during the quarter. Franklin Resources Inc.’s holdings in Coca-Cola were worth $211,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in KO. My Personal CFO LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at about $25,000. Worth Asset Management LLC raised its position in Coca-Cola by 956.1% during the 4th quarter. Worth Asset Management LLC now owns 433 shares of the company’s stock worth $28,000 after buying an additional 392 shares during the last quarter. Exos TFP Holdings LLC acquired a new stake in Coca-Cola during the 3rd quarter valued at approximately $27,000. VitalStone Financial LLC purchased a new stake in shares of Coca-Cola in the 4th quarter valued at $32,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Coca-Cola in the third quarter worth $31,000. 68.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Coca-Cola news, insider Henrique Braun sold 16,950 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $64.03, for a total value of $1,085,308.50. Following the transaction, the insider now directly owns 26,272 shares in the company, valued at $1,682,196.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Nikolaos Koumettis sold 253,102 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $63.63, for a total value of $16,104,880.26. Following the completion of the sale, the insider now directly owns 184,563 shares of the company’s stock, valued at $11,743,743.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Henrique Braun sold 16,950 shares of Coca-Cola stock in a transaction on Friday, May 12th. The shares were sold at an average price of $64.03, for a total transaction of $1,085,308.50. Following the completion of the transaction, the insider now directly owns 26,272 shares in the company, valued at $1,682,196.16. The disclosure for this sale can be found here. Insiders sold 540,473 shares of company stock valued at $33,992,699 in the last ninety days. Insiders own 1.00% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO stock opened at $61.40 on Wednesday. The Coca-Cola Company has a 52 week low of $54.01 and a 52 week high of $65.47. The firm has a 50 day moving average of $62.67 and a two-hundred day moving average of $61.87. The company has a quick ratio of 0.95, a current ratio of 1.15 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $265.53 billion, a PE ratio of 26.93, a P/E/G ratio of 3.49 and a beta of 0.54.

Coca-Cola (NYSE:KO – Get Rating) last issued its quarterly earnings results on Monday, April 24th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03. Coca-Cola had a return on equity of 42.96% and a net margin of 22.69%. The company had revenue of $11 billion for the quarter, compared to the consensus estimate of $10.78 billion. During the same quarter in the prior year, the business earned $0.64 EPS. Coca-Cola’s revenue was up 4.8% on a year-over-year basis. On average, research analysts predict that The Coca-Cola Company will post 2.61 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 16th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Thursday, June 15th. Coca-Cola’s dividend payout ratio is presently 80.70%.

Analyst Upgrades and Downgrades

Several research firms have commented on KO. Citigroup upped their price target on shares of Coca-Cola from $71.00 to $74.00 in a report on Monday, April 24th. StockNews.com started coverage on shares of Coca-Cola in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Credit Suisse Group set a $70.00 price target on Coca-Cola in a research report on Wednesday, February 15th. Wells Fargo & Company lowered their price target on shares of Coca-Cola from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Coca-Cola from $61.00 to $63.00 in a report on Tuesday, April 25th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.80.

Coca-Cola Company Profile

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The Coca-Cola Co engages in the manufacturing and marketing of non-alcoholic beverages. It operates through the following segments: Europe, Middle East and Africa, Latin America, North America, Asia Pacific, Global Ventures, and Bottling Investments. The company was founded by Asa Griggs Candler on May 8, 1886 and is headquartered in Atlanta, GA.