Colonial River Wealth Management LLC reduced its stake in The Coca-Cola Company (NYSE:KO – Free Report) by 10.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 9,318 shares of the company’s stock after selling 1,035 shares during the quarter. Colonial River Wealth Management LLC’s holdings in Coca-Cola were worth $561,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summitry LLC raised its position in Coca-Cola by 1.7% in the 1st quarter. Summitry LLC now owns 9,668 shares of the company’s stock worth $600,000 after buying an additional 159 shares during the last quarter. Ten Capital Wealth Advisors LLC raised its holdings in shares of Coca-Cola by 4.7% during the first quarter. Ten Capital Wealth Advisors LLC now owns 3,584 shares of the company’s stock valued at $222,000 after purchasing an additional 162 shares during the last quarter. Johnson Midwest Financial LLC boosted its holdings in Coca-Cola by 7.5% in the second quarter. Johnson Midwest Financial LLC now owns 2,321 shares of the company’s stock worth $140,000 after purchasing an additional 162 shares during the last quarter. Alpha Financial Partners LLC boosted its holdings in Coca-Cola by 3.4% in the second quarter. Alpha Financial Partners LLC now owns 4,913 shares of the company’s stock worth $296,000 after purchasing an additional 162 shares during the last quarter. Finally, Traynor Capital Management Inc. grew its position in Coca-Cola by 4.4% in the 2nd quarter. Traynor Capital Management Inc. now owns 3,831 shares of the company’s stock worth $231,000 after purchasing an additional 162 shares during the period. 68.96% of the stock is owned by institutional investors and hedge funds.
Coca-Cola Stock Performance
Shares of NYSE KO traded down $0.54 during midday trading on Thursday, reaching $56.55. The company had a trading volume of 3,146,241 shares, compared to its average volume of 13,567,772. The stock has a market cap of $244.49 billion, a P/E ratio of 22.93, a P/E/G ratio of 3.46 and a beta of 0.59. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 1.23. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.99. The business’s 50-day simple moving average is $56.29 and its 200 day simple moving average is $59.67.
Coca-Cola Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.84 annualized dividend and a dividend yield of 3.25%. Coca-Cola’s dividend payout ratio (DPR) is presently 73.90%.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $59.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 25th. Wedbush lifted their price objective on shares of Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Barclays reduced their target price on Coca-Cola from $70.00 to $59.00 and set an “overweight” rating on the stock in a report on Thursday, October 12th. Morgan Stanley lowered their price objective on shares of Coca-Cola from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, October 25th. Finally, StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.36.
Get Our Latest Research Report on KO
Insider Buying and Selling at Coca-Cola
In other news, CEO James Quincey sold 92,029 shares of the company’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $53.86, for a total value of $4,956,681.94. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at $23,835,527.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, CEO James Quincey sold 92,029 shares of the company’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $53.86, for a total value of $4,956,681.94. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $23,835,527.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Beatriz R. Perez sold 20,534 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $56.12, for a total value of $1,152,368.08. Following the completion of the transaction, the senior vice president now directly owns 143,383 shares of the company’s stock, valued at approximately $8,046,653.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 204,592 shares of company stock valued at $11,455,015. 1.00% of the stock is owned by insiders.
Coca-Cola Company Profile
(Free Report)
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.
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