The Coca-Cola Company (NYSE:KO) Shares Sold by NovaPoint Capital LLC

NovaPoint Capital LLC reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 60.4% during the third quarter, HoldingsChannel reports. The firm owned 8,510 shares of the company’s stock after selling 13,000 shares during the quarter. NovaPoint Capital LLC’s holdings in Coca-Cola were worth $612,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB purchased a new position in Coca-Cola in the 1st quarter valued at about $102,604,000. BDF Gestion acquired a new stake in Coca-Cola during the 2nd quarter valued at approximately $7,421,000. Duality Advisers LP increased its holdings in Coca-Cola by 191.1% during the 1st quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock worth $6,843,000 after purchasing an additional 73,434 shares during the last quarter. TD Asset Management Inc raised its position in shares of Coca-Cola by 0.7% in the 1st quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock valued at $179,578,000 after purchasing an additional 20,048 shares in the last quarter. Finally, New Mexico Educational Retirement Board boosted its stake in shares of Coca-Cola by 11.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock valued at $14,013,000 after buying an additional 23,500 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 37,787 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was 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 directly owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Nancy Quan sold 37,787 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly 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 SEC, which is accessible through this link. Also, CEO James Quincey sold 42,397 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $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 quarter, insiders sold 356,792 shares of company stock worth $24,728,364. 0.97% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KO. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Barclays boosted their target price on shares of Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. TD Cowen increased their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Morgan Stanley upped their price objective on 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 report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Coca-Cola Stock Up 0.8 %

Coca-Cola stock opened at $70.44 on Friday. 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 one year low of $53.86 and a one year high of $73.53. The company has a 50-day simple moving average of $70.70 and a 200-day simple moving average of $65.72. The firm has a market capitalization of $303.45 billion, a P/E ratio of 28.17, a P/E/G ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 EPS. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm 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. This represents a $1.94 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is currently 77.60%.

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.