Carnegie Capital Asset Management LLC Has $7.70 Million Stake in The Coca-Cola Company (NYSE:KO)

Carnegie Capital Asset Management LLC trimmed its holdings in The Coca-Cola Company (NYSE:KOGet Rating) by 14.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 142,287 shares of the company’s stock after selling 23,228 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Coca-Cola were worth $7,699,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. Nauset Wealth Management. LLC bought a new stake in Coca-Cola during the first quarter worth about $27,000. Delos Wealth Advisors LLC raised its stake in Coca-Cola by 4,770.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 487 shares of the company’s stock valued at $29,000 after buying an additional 477 shares during the period. Carl Stuart Investment Advisor Inc. bought a new position in shares of Coca-Cola during the first quarter worth approximately $34,000. Hillsdale Investment Management Inc. bought a new position in shares of Coca-Cola during the first quarter worth approximately $35,000. Finally, Rational Advisors LLC bought a new position in shares of Coca-Cola during the first quarter worth approximately $37,000. 68.93% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Down 0.8 %

Shares of NYSE:KO opened at $59.40 on Thursday. The firm has a market cap of $256.88 billion, a P/E ratio of 26.88, a P/E/G ratio of 3.79 and a beta of 0.54. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.48. The Coca-Cola Company has a 12-month low of $52.28 and a 12-month high of $67.20. The business has a fifty day simple moving average of $62.64 and a 200 day simple moving average of $62.68.

Coca-Cola (NYSE:KOGet Rating) last announced its earnings results on Tuesday, July 26th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.03. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $10.57 billion. Coca-Cola had a return on equity of 42.13% and a net margin of 23.16%. Coca-Cola’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $0.68 EPS. Analysts predict that The Coca-Cola Company will post 2.46 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Thursday, September 15th. Coca-Cola’s dividend payout ratio (DPR) is presently 79.64%.

Insider Transactions at Coca-Cola

In other news, VP Kathy Loveless sold 2,512 shares of Coca-Cola stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $64.00, for a total value of $160,768.00. Following the completion of the transaction, the vice president now directly owns 1,370 shares of the company’s stock, valued at approximately $87,680. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Carolyn Everson purchased 983 shares of the business’s stock in a transaction on Wednesday, July 27th. The stock was acquired at an average price of $62.29 per share, for a total transaction of $61,231.07. Following the purchase, the director now owns 1,500 shares of the company’s stock, valued at $93,435. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Kathy Loveless sold 2,512 shares of Coca-Cola stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $64.00, for a total value of $160,768.00. Following the transaction, the vice president now owns 1,370 shares of the company’s stock, valued at approximately $87,680. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,830 shares of company stock valued at $2,939,961. Corporate insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KO. HSBC increased their target price on Coca-Cola from $72.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th. JPMorgan Chase & Co. set a $70.00 target price on Coca-Cola in a research note on Tuesday, July 26th. Royal Bank of Canada set a $69.00 price target on Coca-Cola in a research report on Tuesday, July 26th. Credit Suisse Group set a $68.00 price target on Coca-Cola in a research report on Wednesday, July 20th. Finally, UBS Group increased their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.59.

Coca-Cola Profile

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The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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

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