Northstar Group Inc. Reduces Position in The Coca-Cola Company (NYSE:KO)

Northstar Group Inc. reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,025 shares of the company’s stock after selling 193 shares during the period. Northstar Group Inc.’s holdings in Coca-Cola were worth $2,517,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KO. New Millennium Group LLC purchased a new position in Coca-Cola during the 2nd quarter worth approximately $26,000. Quarry LP acquired a new position in shares of Coca-Cola in the 2nd quarter valued at about $27,000. Redmont Wealth Advisors LLC purchased a new position in Coca-Cola during the first quarter valued at approximately $28,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola during the 1st quarter valued at approximately $28,000. Finally, DiNuzzo Private Wealth Inc. lifted its stake in shares of Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of the business’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 value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO James Quincey sold 102,533 shares of the business’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 transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 376,096 shares of company stock worth $25,982,352. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Trading Down 0.0 %

Shares of KO stock traded down $0.01 on Thursday, hitting $69.56. 644,700 shares of the stock traded hands, compared to its average volume of 13,198,741. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The Coca-Cola Company has a twelve month low of $52.43 and a twelve month high of $73.53. The firm’s 50-day moving average price is $70.48 and its two-hundred day moving average price is $65.30. The stock has a market capitalization of $299.66 billion, a PE ratio of 27.82, a PEG ratio of 3.97 and a beta of 0.60.

Coca-Cola (NYSE:KO) last posted its 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 net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same period in the previous year, the business posted $0.78 EPS. Coca-Cola’s revenue was up 3.3% on a year-over-year basis. As a group, analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analyst Ratings Changes

KO has been the topic of several analyst reports. Morgan Stanley raised 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. Bank of America lifted their price target on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Citigroup raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Barclays boosted their price objective on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.