Mount Yale Investment Advisors LLC Sells 2,063 Shares of The Coca-Cola Company (NYSE:KO)

Mount Yale Investment Advisors LLC lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 16.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,471 shares of the company’s stock after selling 2,063 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Coca-Cola were worth $666,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Focus Financial Network Inc. ADV acquired a new position in Coca-Cola during the fourth quarter valued at approximately $3,255,000. Swedbank AB bought a new position in shares of Coca-Cola in the first quarter valued at $102,604,000. Angeles Investment Advisors LLC increased its holdings in Coca-Cola by 2.4% during the fourth quarter. Angeles Investment Advisors LLC now owns 15,812 shares of the company’s stock worth $932,000 after buying an additional 374 shares during the last quarter. Wealth Quarterback LLC raised its position in Coca-Cola by 3.2% during the fourth quarter. Wealth Quarterback LLC now owns 17,454 shares of the company’s stock worth $1,029,000 after acquiring an additional 537 shares in the last quarter. Finally, BDF Gestion bought a new stake in Coca-Cola during the second quarter worth $7,421,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. TD Cowen upped their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Barclays upped their price objective on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Truist Financial lifted their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Finally, StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average price target of $71.07.

Coca-Cola Stock Up 0.1 %

NYSE KO opened at $71.71 on Tuesday. 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 company has a market cap of $308.92 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 3.93 and a beta of 0.60. The company has a 50 day moving average of $69.30 and a 200-day moving average of $64.46. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53.

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. On average, equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.71%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Activity

In related news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. In the last ninety days, insiders sold 974,715 shares of company stock worth $579,704,927. 0.97% of the stock is currently owned by corporate 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.