Aberdeen Wealth Management LLC Reduces Position in The Coca-Cola Company (NYSE:KO)

Aberdeen Wealth Management LLC lessened its position in The Coca-Cola Company (NYSE:KO) by 2.4% during the third quarter, Holdings Channel.com reports. The fund owned 17,348 shares of the company’s stock after selling 425 shares during the period. Aberdeen Wealth Management LLC’s holdings in Coca-Cola were worth $1,247,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Coca-Cola in the 3rd quarter worth about $269,382,000. W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in Coca-Cola by 0.9% during the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 115,123 shares of the company’s stock worth $8,273,000 after acquiring an additional 1,047 shares in the last quarter. First City Capital Management Inc. grew its holdings in Coca-Cola by 0.7% in the third quarter. First City Capital Management Inc. now owns 97,635 shares of the company’s stock worth $7,016,000 after purchasing an additional 633 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in shares of Coca-Cola by 16.8% during the third quarter. Fifth Third Wealth Advisors LLC now owns 93,694 shares of the company’s stock valued at $6,733,000 after purchasing an additional 13,509 shares in the last quarter. Finally, Wrapmanager Inc. lifted its holdings in shares of Coca-Cola by 6.1% during the third quarter. Wrapmanager Inc. now owns 15,035 shares of the company’s stock valued at $1,080,000 after purchasing an additional 860 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.2 %

KO opened at $61.85 on Tuesday. The Coca-Cola Company has a 52 week low of $56.96 and a 52 week high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The firm has a 50-day simple moving average of $68.43 and a two-hundred day simple moving average of $66.54. The company has a market capitalization of $266.44 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 3.75 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The firm’s revenue was down .8% on a year-over-year basis. Analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Wall Street Analyst Weigh In

KO has been the topic of several analyst reports. TD Cowen boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Citigroup lifted their target price 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. Morgan Stanley cut their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Barclays decreased their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Four investment 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.36.

Insider Buying and Selling

In other news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 7.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 102,533 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. The trade was a 18.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 303,748 shares of company stock worth $20,677,431. Insiders own 0.97% of the company’s stock.

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.