InTrack Investment Management Inc Sells 2,242 Shares of The Coca-Cola Company (NYSE:KO)

InTrack Investment Management Inc reduced its holdings in shares of The Coca-Cola Company (NYSE:KO) by 14.7% during the first quarter, HoldingsChannel.com reports. The fund owned 12,976 shares of the company’s stock after selling 2,242 shares during the quarter. InTrack Investment Management Inc’s holdings in Coca-Cola were worth $929,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of KO. Crowley Wealth Management Inc. purchased a new stake in shares of Coca-Cola during the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC purchased a new position in Coca-Cola in the fourth quarter valued at approximately $31,000. REAP Financial Group LLC grew its holdings in Coca-Cola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after purchasing an additional 208 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in Coca-Cola during the fourth quarter valued at $38,000. Finally, Hoey Investments Inc. increased its position in Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after buying an additional 181 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $72.36 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The stock’s 50-day simple moving average is $71.38 and its 200-day simple moving average is $67.72. The company has a market capitalization of $311.44 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 3.79 and a beta of 0.46.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the previous year, the firm posted $0.72 EPS. Coca-Cola’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Friday, June 13th. Coca-Cola’s payout ratio is 81.60%.

Insider Buying and Selling

In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president now directly owns 187,716 shares of the company’s stock, valued at $13,491,148.92. The trade was a 24.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the transaction, the chief executive officer now owns 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 415,387 shares of company stock worth $29,923,985. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on KO shares. Wells Fargo & Company lifted their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada increased their target price on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday, February 13th. Cfra Research upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. Finally, UBS Group raised their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $76.00.

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.