Point72 Hong Kong Ltd Cuts Stock Holdings in The Coca-Cola Company (NYSE:KO)

Point72 Hong Kong Ltd reduced its stake in The Coca-Cola Company (NYSE:KO) by 73.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 81,495 shares of the company’s stock after selling 230,225 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Coca-Cola were worth $5,187,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Focus Financial Network Inc. ADV purchased a new stake in shares of Coca-Cola in the fourth quarter valued at about $3,255,000. Swedbank AB bought a new stake in Coca-Cola in the 1st quarter worth about $102,604,000. Angeles Investment Advisors LLC increased its stake in Coca-Cola by 2.4% in the 4th quarter. Angeles Investment Advisors LLC now owns 15,812 shares of the company’s stock valued at $932,000 after buying an additional 374 shares during the last quarter. Wealth Quarterback LLC lifted its position in shares of Coca-Cola by 3.2% during the 4th quarter. Wealth Quarterback LLC now owns 17,454 shares of the company’s stock worth $1,029,000 after buying an additional 537 shares in the last quarter. Finally, BDF Gestion purchased a new position in shares of Coca-Cola in the 2nd quarter worth approximately $7,421,000. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KO has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Morgan Stanley increased their price target on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Citigroup boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.07.

Coca-Cola Trading Down 0.5 %

NYSE:KO opened at $71.34 on Wednesday. The company has a market cap of $307.47 billion, a P/E ratio of 28.54, a P/E/G ratio of 3.97 and a beta of 0.60. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $73.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The stock’s fifty day moving average price is $69.44 and its two-hundred day moving average price is $64.54.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. The company’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. As a group, analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.72%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is currently owned by company insiders.

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.