Folger Nolan Fleming Douglas Capital Management Inc. Sells 3,968 Shares of The Coca-Cola Company (NYSE:KO)

Folger Nolan Fleming Douglas Capital Management Inc. lowered its holdings in shares of The Coca-Cola Company (NYSE:KO) by 9.6% in the fourth quarter, HoldingsChannel reports. The firm owned 37,349 shares of the company’s stock after selling 3,968 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Coca-Cola were worth $2,201,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ZRC Wealth Management LLC boosted its holdings in shares of Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the period. Criterion Capital Advisors LLC bought a new stake in shares of Coca-Cola during the fourth quarter worth approximately $30,000. Financial Connections Group Inc. bought a new stake in shares of Coca-Cola during the fourth quarter worth approximately $38,000. Avion Wealth boosted its holdings in shares of Coca-Cola by 64.8% during the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after acquiring an additional 322 shares during the period. Finally, Clear Investment Research LLC boosted its holdings in shares of Coca-Cola by 36.1% during the third quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock worth $52,000 after acquiring an additional 246 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

KO remained flat at $61.74 during trading on Friday. 10,994,262 shares of the company’s stock traded hands, compared to its average volume of 12,842,353. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.69. The firm has a market cap of $266.17 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The business’s fifty day moving average is $60.12 and its 200 day moving average is $58.82.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The business had revenue of $10.80 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same period in the previous year, the business earned $0.45 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.485 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s payout ratio is currently 78.23%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on KO shares. Citigroup boosted their price objective on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Barclays lifted their price target on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $67.22.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $26,968,753.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Insiders sold a total of 375,407 shares of company stock worth $22,795,742 over the last three months. Corporate insiders own 0.97% of the company’s stock.

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.