Sunbelt Securities Inc. Increases Stock Position in The Coca-Cola Company (NYSE:KO)

Sunbelt Securities Inc. grew its stake in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 7.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,961 shares of the company’s stock after buying an additional 587 shares during the period. Sunbelt Securities Inc.’s holdings in Coca-Cola were worth $502,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Paragon Wealth Strategies LLC acquired a new position in shares of Coca-Cola during the 3rd quarter valued at $25,000. Exos TFP Holdings LLC acquired a new position in shares of Coca-Cola during the 3rd quarter valued at $27,000. Neo Ivy Capital Management acquired a new position in shares of Coca-Cola during the 3rd quarter valued at $31,000. Horizons Wealth Management acquired a new position in shares of Coca-Cola during the 2nd quarter valued at $34,000. Finally, Bellwether Advisors LLC lifted its holdings in Coca-Cola by 32.4% in the 3rd quarter. Bellwether Advisors LLC now owns 698 shares of the company’s stock worth $39,000 after buying an additional 171 shares in the last quarter. 68.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Coca-Cola from $62.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, February 15th. The Goldman Sachs Group boosted their price objective on shares of Coca-Cola from $61.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, February 13th. Credit Suisse Group set a $70.00 price objective on shares of Coca-Cola in a report on Wednesday, February 15th. Morgan Stanley boosted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, February 15th. Finally, Royal Bank of Canada set a $69.00 price objective on shares of Coca-Cola in a report on Tuesday, February 14th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.70.

Insiders Place Their Bets

In other Coca-Cola news, insider Brian John Smith sold 126,972 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $62.07, for a total value of $7,881,152.04. Following the completion of the transaction, the insider now owns 116,168 shares in the company, valued at approximately $7,210,547.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Coca-Cola news, insider Brian John Smith sold 126,972 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $62.07, for a total value of $7,881,152.04. Following the completion of the transaction, the insider now owns 116,168 shares in the company, valued at approximately $7,210,547.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Nancy Quan sold 74,000 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $58.71, for a total transaction of $4,344,540.00. Following the completion of the transaction, the senior vice president now owns 219,790 shares of the company’s stock, valued at approximately $12,903,870.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 282,268 shares of company stock worth $17,137,823. Insiders own 0.98% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $60.30 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.15 and a debt-to-equity ratio of 1.41. The Coca-Cola Company has a fifty-two week low of $54.01 and a fifty-two week high of $67.20. The firm has a 50-day simple moving average of $60.34 and a 200 day simple moving average of $60.42. The company has a market cap of $260.88 billion, a PE ratio of 27.41, a P/E/G ratio of 3.46 and a beta of 0.53.

Coca-Cola (NYSE:KO – Get Rating) last announced its quarterly earnings data on Tuesday, February 14th. The company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. Coca-Cola had a net margin of 22.19% and a return on equity of 42.35%. The business had revenue of $10.10 billion during the quarter, compared to the consensus estimate of $9.92 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.6 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 17th will be given a $0.46 dividend. This is a boost from Coca-Cola’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $1.84 annualized dividend and a yield of 3.05%. Coca-Cola’s dividend payout ratio is 80.00%.

About Coca-Cola

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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.