Novare Capital Management LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 2.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 21,958 shares of the company’s stock after selling 439 shares during the period. Novare Capital Management LLC’s holdings in Coca-Cola were worth $1,578,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in KO. New Millennium Group LLC bought a new position in shares of Coca-Cola in the second quarter worth approximately $26,000. Quarry LP purchased a new position in Coca-Cola in the 2nd quarter worth approximately $27,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola in the 1st quarter worth $28,000. Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola during the 1st quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. grew its position in Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after acquiring an additional 206 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on KO shares. 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 research report on Wednesday, July 24th. Wells Fargo & Company boosted their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley upped their target price on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Barclays upped their price objective on shares of Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.33.
Coca-Cola Trading Up 0.5 %
Shares of KO traded up $0.38 during trading hours on Monday, reaching $69.95. 1,565,976 shares of the company traded hands, compared to its average volume of 13,158,060. The Coca-Cola Company has a 12 month low of $52.84 and a 12 month high of $73.53. The company has a market capitalization of $301.34 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The company’s fifty day moving average price is $70.51 and its two-hundred day moving average price is $65.46. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.
Coca-Cola (NYSE:KO – Get Free Report) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 EPS. Equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.77%. The ex-dividend date was 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 the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,507,516.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction that occurred on 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 owns 223,330 shares in the company, valued at $14,507,516.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James Quincey sold 42,397 shares of Coca-Cola stock in a transaction on Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. Following the transaction, the chief executive officer now 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 376,096 shares of company stock worth $25,982,352. Corporate insiders own 0.97% of the company’s stock.
About Coca-Cola
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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