Adviser Investments LLC cut its position in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 13.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,754 shares of the company’s stock after selling 2,865 shares during the quarter. Adviser Investments LLC’s holdings in Coca-Cola were worth $1,117,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nauset Wealth Management. LLC purchased a new stake in shares of Coca-Cola in the first quarter worth about $27,000. Delos Wealth Advisors LLC boosted its position in shares of Coca-Cola by 4,770.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 487 shares of the company’s stock worth $29,000 after buying an additional 477 shares during the period. Carl Stuart Investment Advisor Inc. purchased a new stake in shares of Coca-Cola in the first quarter worth about $34,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Coca-Cola in the first quarter worth about $35,000. Finally, Rational Advisors LLC purchased a new stake in shares of Coca-Cola in the first quarter worth about $37,000. 68.93% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Coca-Cola
In related news, Director Carolyn Everson purchased 983 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were acquired at an average cost of $62.29 per share, for a total transaction of $61,231.07. Following the transaction, the director now owns 1,500 shares of the company’s stock, valued at $93,435. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO James Quincey sold 32,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $64.09, for a total value of $2,050,880.00. Following the sale, the chief executive officer now directly owns 351,737 shares in the company, valued at approximately $22,542,824.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carolyn Everson bought 983 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 1,500 shares in the company, valued at $93,435. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 45,830 shares of company stock worth $2,939,961. 0.98% of the stock is currently owned by company insiders.
Coca-Cola Trading Down 0.2 %
Coca-Cola (NYSE:KO – Get Rating) last released its earnings results on Tuesday, July 26th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $10.57 billion. Coca-Cola had a return on equity of 42.13% and a net margin of 23.16%. Coca-Cola’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. On average, analysts predict that The Coca-Cola Company will post 2.46 EPS for the current year.
Coca-Cola Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Thursday, September 15th. Coca-Cola’s payout ratio is 79.64%.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on KO. UBS Group upped their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Credit Suisse Group set a $68.00 target price on Coca-Cola in a research report on Wednesday, July 20th. Morgan Stanley reduced their price target on Coca-Cola from $76.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. StockNews.com raised Coca-Cola from a “hold” rating to a “buy” rating in a report on Saturday, August 6th. Finally, HSBC increased their price target on Coca-Cola from $72.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.59.
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.
- Get a free copy of the StockNews.com research report on Coca-Cola (KO)
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