The Coca-Cola Company (NYSE:KO) Stock Position Trimmed by Wealth Alliance

Wealth Alliance cut its position in The Coca-Cola Company (NYSE:KO) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,276 shares of the company’s stock after selling 333 shares during the quarter. Wealth Alliance’s holdings in Coca-Cola were worth $845,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of KO. Gilbert & Cook Inc. lifted its position in Coca-Cola by 5.6% in the 4th quarter. Gilbert & Cook Inc. now owns 15,971 shares of the company’s stock valued at $941,000 after purchasing an additional 841 shares during the last quarter. Accretive Wealth Partners LLC raised its position in shares of Coca-Cola by 1.4% during the 4th quarter. Accretive Wealth Partners LLC now owns 25,843 shares of the company’s stock worth $1,523,000 after buying an additional 351 shares in the last quarter. Aveo Capital Partners LLC raised its position in shares of Coca-Cola by 13.9% during the 4th quarter. Aveo Capital Partners LLC now owns 9,709 shares of the company’s stock worth $572,000 after buying an additional 1,182 shares in the last quarter. Gryphon Financial Partners LLC raised its position in shares of Coca-Cola by 72.0% during the 4th quarter. Gryphon Financial Partners LLC now owns 17,973 shares of the company’s stock worth $1,034,000 after buying an additional 7,521 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in shares of Coca-Cola by 10.5% during the 4th quarter. Hillsdale Investment Management Inc. now owns 8,604 shares of the company’s stock worth $507,000 after buying an additional 820 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Performance

Shares of KO opened at $71.76 on Thursday. The company’s 50 day moving average price is $68.83 and its 200 day moving average price is $64.18. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The company has a market capitalization of $309.14 billion, a PE ratio of 28.70, a PEG ratio of 3.93 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

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

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Quincey sold 42,397 shares of Coca-Cola stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The disclosure for this sale can be found here. Insiders sold 974,715 shares of company stock worth $579,704,927 over the last ninety days. 0.97% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. BNP Paribas assumed coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective on the stock. Royal Bank of Canada lifted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Bank of America lifted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Argus lifted their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus 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.