Ilex Capital Partners UK LLP Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

Ilex Capital Partners UK LLP cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 74.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 539,532 shares of the company’s stock after selling 1,594,635 shares during the period. Coca-Cola comprises about 2.6% of Ilex Capital Partners UK LLP’s portfolio, making the stock its 16th biggest position. Ilex Capital Partners UK LLP’s holdings in Coca-Cola were worth $38,771,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in KO. New Millennium Group LLC acquired a new position in shares of Coca-Cola during the second quarter worth about $26,000. Quarry LP acquired a new position in shares of Coca-Cola during the second quarter worth about $27,000. Hara Capital LLC acquired a new position in shares of Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola during the third quarter worth about $36,000. Finally, Mount Lucas Management LP acquired a new position in shares of Coca-Cola during the second quarter worth about $38,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on KO shares. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Wells Fargo & Company dropped their price target on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Barclays dropped their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.14.

Coca-Cola Stock Performance

Shares of KO traded down $0.36 during mid-day trading on Tuesday, reaching $63.29. 3,388,202 shares of the company’s stock were exchanged, compared to its average volume of 13,520,128. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock has a market capitalization of $272.64 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 3.89 and a beta of 0.61. The business’s fifty day simple moving average is $67.07 and its 200-day simple moving average is $66.61. The Coca-Cola Company has a 52-week low of $57.47 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period last year, the company earned $0.74 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Coca-Cola Company 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.