Curbstone Financial Management Corp Trims Stake in The Coca-Cola Company (NYSE:KO)

Curbstone Financial Management Corp lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,958 shares of the company’s stock after selling 1,000 shares during the period. Curbstone Financial Management Corp’s holdings in Coca-Cola were worth $1,684,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of KO. Venturi Wealth Management LLC purchased a new position in shares of Coca-Cola during the first quarter worth approximately $25,000. Freedom Wealth Alliance LLC bought a new stake in Coca-Cola during the 4th quarter valued at $25,000. Fortis Capital Advisors LLC purchased a new stake in shares of Coca-Cola in the 4th quarter worth $30,000. NewSquare Capital LLC grew its position in shares of Coca-Cola by 62.5% during the 1st quarter. NewSquare Capital LLC now owns 507 shares of the company’s stock worth $31,000 after buying an additional 195 shares in the last quarter. Finally, KB Financial Partners LLC purchased a new position in shares of Coca-Cola during the first quarter valued at $31,000. Hedge funds and other institutional investors own 68.96% of the company’s stock.

Insider Buying and Selling

In related news, SVP Monica Howard Douglas sold 21,074 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $60.90, for a total value of $1,283,406.60. Following the completion of the transaction, the senior vice president now directly owns 18,360 shares in the company, valued at approximately $1,118,124. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Monica Howard Douglas sold 21,074 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the sale, the senior vice president now directly owns 18,360 shares in the company, valued at approximately $1,118,124. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John Murphy sold 156,290 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $62.10, for a total value of $9,705,609.00. Following the completion of the transaction, the chief financial officer now directly owns 228,830 shares of the company’s stock, valued at approximately $14,210,343. The disclosure for this sale can be found here. Insiders sold 227,364 shares of company stock valued at $14,122,016 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on KO. JPMorgan Chase & Co. increased their target price on shares of Coca-Cola from $67.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. Barclays lifted their price objective on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Royal Bank of Canada upped their target price on Coca-Cola from $69.00 to $70.00 in a report on Thursday, July 27th. Wedbush lifted their price target on Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Finally, HSBC dropped their price objective on Coca-Cola from $77.00 to $74.00 in a research report on Wednesday, June 7th. Three equities 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 currently has a consensus rating of “Moderate Buy” and an average price target of $68.33.

Coca-Cola Stock Down 0.1 %

Shares of KO stock traded down $0.08 during trading hours on Thursday, reaching $58.36. 2,118,366 shares of the company’s stock were exchanged, compared to its average volume of 12,855,894. The stock has a market cap of $252.37 billion, a PE ratio of 24.05, a PEG ratio of 3.42 and a beta of 0.55. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock’s fifty day moving average price is $60.62 and its two-hundred day moving average price is $61.28. The Coca-Cola Company has a 1 year low of $54.01 and a 1 year high of $64.99.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.06. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. The company had revenue of $12 billion for the quarter, compared to the consensus estimate of $11.74 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. Coca-Cola’s revenue was up 6.2% compared to the same quarter last year. Research analysts predict that The Coca-Cola Company will post 2.63 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Thursday, September 14th. Coca-Cola’s dividend payout ratio is presently 75.72%.

About Coca-Cola

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.