Edgar Lomax Co. VA Lowers Stake in The Coca-Cola Company (NYSE:KO)

Edgar Lomax Co. VA lowered its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 884,150 shares of the company's stock after selling 16,960 shares during the period. Coca-Cola accounts for about 3.5% of Edgar Lomax Co. VA's holdings, making the stock its 6th biggest position. Edgar Lomax Co. VA's holdings in Coca-Cola were worth $55,047,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Crowley Wealth Management Inc. bought a new position in shares of Coca-Cola in the fourth quarter worth $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola during the 4th quarter valued at about $31,000. Murphy & Mullick Capital Management Corp bought a new stake in Coca-Cola in the 4th quarter worth approximately $38,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola in the 4th quarter worth approximately $37,000. Finally, Hoey Investments Inc. boosted its stake in shares of Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company's stock valued at $38,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Coca-Cola Trading Up 1.8 %

KO stock traded up $1.31 during trading on Friday, reaching $72.99. The company had a trading volume of 20,745,798 shares, compared to its average volume of 15,385,871. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The Coca-Cola Company has a 52 week low of $59.72 and a 52 week high of $73.95. The business has a 50 day moving average of $70.39 and a 200 day moving average of $66.36. The company has a market cap of $314.13 billion, a P/E ratio of 29.55, a PEG ratio of 3.79 and a beta of 0.45.

Coca-Cola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Friday, March 14th. This is a boost from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's payout ratio is 82.59%.

Insider Transactions at Coca-Cola

In related news, COO Henrique Braun sold 25,277 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the sale, the chief operating officer now owns 52,466 shares of the company's stock, valued at $3,749,745.02. The trade was a 32.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Quincey sold 145,435 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company's stock, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock valued at $22,263,071 in the last three months. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

KO has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. UBS Group lifted their price objective on Coca-Cola from $78.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday. DZ Bank upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target on the stock in a research report on Thursday, February 13th. Evercore ISI boosted their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, Cfra Research raised Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of "Buy" and a consensus price target of $74.59.

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.