Duff & Phelps Investment Management Co. Sells 35,964 Shares of The Coca-Cola Company (NYSE:KO)

Duff & Phelps Investment Management Co. reduced its holdings in shares of The Coca-Cola Company (NYSE:KO) by 80.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,926 shares of the company’s stock after selling 35,964 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Coca-Cola were worth $568,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of KO. New Millennium Group LLC purchased a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new position in Coca-Cola during the first quarter valued at $28,000. ESL Trust Services LLC purchased a new stake in Coca-Cola in the first quarter worth $28,000. DiNuzzo Private Wealth Inc. raised its stake in shares of Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after buying an additional 206 shares during the period. Finally, Mount Lucas Management LP purchased a new position in shares of Coca-Cola during the 2nd quarter valued at $38,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KO. Royal Bank of Canada lifted their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Wells Fargo & Company upped their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley lifted their price objective on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Finally, BNP Paribas assumed coverage on Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price on the stock. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Trading Up 0.5 %

NYSE KO opened at $71.79 on Monday. The firm has a market cap of $309.27 billion, a PE ratio of 28.72, a price-to-earnings-growth 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 stock has a 50-day moving average of $69.82 and a 200-day moving average of $64.77. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

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. 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 during the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

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

Insider Activity at Coca-Cola

In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold a total of 974,715 shares of company stock worth $579,704,927 in the last 90 days. Company insiders own 0.97% of the company’s stock.

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.