Blue Barn Wealth LLC Cuts Stake in The Coca-Cola Company (NYSE:KO)

Blue Barn Wealth LLC cut its position in shares of The Coca-Cola Company (NYSE:KO) by 35.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,544 shares of the company’s stock after selling 2,550 shares during the period. Blue Barn Wealth LLC’s holdings in Coca-Cola were worth $268,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Insigneo Advisory Services LLC increased its stake in Coca-Cola by 12.2% in the third quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock worth $2,354,000 after purchasing an additional 4,527 shares during the period. Birchcreek Wealth Management LLC increased its holdings in Coca-Cola by 12.6% during the 4th quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock worth $267,000 after purchasing an additional 507 shares during the period. HF Advisory Group LLC grew its position in shares of Coca-Cola by 7.6% during the 3rd quarter. HF Advisory Group LLC now owns 6,770 shares of the company’s stock worth $379,000 after buying an additional 476 shares in the last quarter. Wahed Invest LLC increased its stake in shares of Coca-Cola by 10.3% during the third quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock valued at $3,435,000 after buying an additional 5,707 shares during the period. Finally, Smart Money Group LLC grew its holdings in Coca-Cola by 21.6% during the 4th quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock worth $291,000 after acquiring an additional 877 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction 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 transaction, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction 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 in the company, valued at approximately $10,358,962.93. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nancy Quan sold 57,368 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Insiders sold a total of 380,405 shares of company stock worth $23,209,645 over the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Barclays raised their price objective on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. UBS Group raised their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Evercore ISI lifted their price target on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Citigroup raised their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, JPMorgan Chase & Co. increased their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.27.

Coca-Cola Stock Up 0.4 %

KO traded up $0.23 during trading hours on Wednesday, hitting $62.85. 10,435,454 shares of the company’s stock were exchanged, compared to its average volume of 13,879,216. 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 Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.25. The firm has a market cap of $270.75 billion, a P/E ratio of 25.07, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57. The firm has a 50 day moving average of $60.32 and a 200 day moving average of $59.30.

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

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.09%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Coca-Cola Company 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.