Capital Investment Advisors LLC Lowers Position in The Coca-Cola Company (NYSE:KO)

Capital Investment Advisors LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 496,177 shares of the company’s stock after selling 14,288 shares during the period. Capital Investment Advisors LLC’s holdings in Coca-Cola were worth $35,655,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in KO. Meridian Financial Partners LLC raised its holdings in shares of Coca-Cola by 1.5% in the 3rd quarter. Meridian Financial Partners LLC now owns 17,942 shares of the company’s stock worth $1,289,000 after purchasing an additional 262 shares during the period. Moss Adams Wealth Advisors LLC increased its position in Coca-Cola by 2.1% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 11,498 shares of the company’s stock worth $832,000 after purchasing an additional 242 shares in the last quarter. Sage Financial Management Group Inc. purchased a new position in Coca-Cola in the third quarter valued at approximately $217,000. Net Worth Advisory Group acquired a new position in Coca-Cola during the third quarter valued at approximately $323,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in Coca-Cola during the third quarter worth approximately $222,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Nancy Quan sold 37,787 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,954,176.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $66.96, for a total value of $2,530,217.52. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 42,397 shares of Coca-Cola stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 356,792 shares of company stock worth $24,728,364. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

KO has been the topic of several analyst reports. Morgan Stanley raised their target price on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. TD Cowen lifted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Citigroup boosted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Barclays lifted their target price on Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, BNP Paribas began coverage on Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $72.00.

Coca-Cola Price Performance

Shares of NYSE KO opened at $70.43 on Friday. 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 Coca-Cola Company has a twelve month low of $53.86 and a twelve month high of $73.53. The business has a 50 day simple moving average of $70.70 and a 200-day simple moving average of $65.72. The company has a market capitalization of $303.41 billion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping 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 business had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter last year, the business posted $0.78 EPS. The business’s revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 2.75%. Coca-Cola’s payout ratio is 77.60%.

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.