Marotta Asset Management Sells 170 Shares of The Coca-Cola Company (NYSE:KO)

Marotta Asset Management trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 2.4% during the third quarter, HoldingsChannel reports. The firm owned 6,866 shares of the company’s stock after selling 170 shares during the quarter. Marotta Asset Management’s holdings in Coca-Cola were worth $493,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in KO. New Millennium Group LLC bought a new stake in Coca-Cola in the 2nd quarter valued at $26,000. Quarry LP acquired a new stake in Coca-Cola in the 2nd quarter valued at approximately $27,000. Redmont Wealth Advisors LLC bought a new stake in Coca-Cola in the 1st quarter valued at approximately $28,000. ESL Trust Services LLC acquired a new position in Coca-Cola during the 1st quarter worth approximately $28,000. Finally, DiNuzzo Private Wealth Inc. grew its stake in shares of Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 in the company, valued at approximately $15,968,095. The disclosure for this sale can be found here. Insiders have sold 376,096 shares of company stock valued at $25,982,352 over the last three months. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Down 0.7 %

Shares of KO opened at $70.50 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $73.53. The firm’s 50 day moving average is $70.29 and its 200-day moving average is $65.02. The stock has a market capitalization of $303.71 billion, a PE ratio of 28.20, a P/E/G ratio of 3.97 and a beta of 0.60.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data 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. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 EPS. Equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Wall Street Analysts Forecast Growth

KO has been the subject of several recent research reports. BNP Paribas began coverage on shares of Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Bank of America upped their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.07.

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.