First Fiduciary Investment Counsel Inc. reduced its stake in The Coca-Cola Co (NYSE:KO) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 311,458 shares of the company’s stock after selling 1,170 shares during the period. The Coca-Cola accounts for approximately 2.6% of First Fiduciary Investment Counsel Inc.’s holdings, making the stock its 18th biggest position. First Fiduciary Investment Counsel Inc.’s holdings in The Coca-Cola were worth $13,661,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Clarus Wealth Advisors bought a new stake in shares of The Coca-Cola in the 2nd quarter worth approximately $101,000. WP Advisors LLC bought a new stake in shares of The Coca-Cola in the 2nd quarter worth approximately $107,000. Signature Estate & Investment Advisors LLC bought a new stake in shares of The Coca-Cola in the 2nd quarter worth approximately $116,000. Fort L.P. bought a new stake in shares of The Coca-Cola in the 2nd quarter worth approximately $122,000. Finally, Lee Financial Co raised its holdings in shares of The Coca-Cola by 385.0% in the 1st quarter. Lee Financial Co now owns 3,759 shares of the company’s stock worth $163,000 after purchasing an additional 2,984 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

In related news, VP Kathy N. Waller sold 48,354 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $46.45, for a total transaction of $2,246,043.30. Following the transaction, the vice president now directly owns 200,725 shares of the company’s stock, valued at $9,323,676.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Murphy sold 56,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $46.48, for a total transaction of $2,602,880.00. Following the transaction, the insider now directly owns 140,869 shares in the company, valued at $6,547,591.12. The disclosure for this sale can be found here. Insiders have sold 215,822 shares of company stock worth $10,027,727 over the last ninety days. 1.48% of the stock is currently owned by insiders.

KO has been the topic of a number of research reports. JPMorgan Chase & Co. reiterated a “$45.12” rating and issued a $49.00 target price on shares of The Coca-Cola in a report on Wednesday, July 18th. TheStreet upgraded shares of The Coca-Cola from a “c+” rating to a “b-” rating in a report on Tuesday, July 17th. SunTrust Banks boosted their target price on shares of The Coca-Cola to $55.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Royal Bank of Canada set a $56.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Wednesday, July 25th. Finally, Morningstar set a $49.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Wednesday, August 8th. Fourteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $50.31.

KO stock opened at $45.93 on Wednesday. The Coca-Cola Co has a 52-week low of $41.45 and a 52-week high of $48.62. The company has a current ratio of 1.15, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39. The company has a market cap of $196.19 billion, a PE ratio of 24.05, a PEG ratio of 2.84 and a beta of 0.75.

The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 25th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. The Coca-Cola had a net margin of 7.18% and a return on equity of 40.68%. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same quarter in the previous year, the business earned $0.59 earnings per share. The firm’s revenue was down 8.3% compared to the same quarter last year. equities research analysts anticipate that The Coca-Cola Co will post 2.07 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Thursday, September 13th. The Coca-Cola’s payout ratio is presently 81.68%.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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