Addenda Capital Inc. Sells 252 Shares of The Coca-Cola Company (NYSE:KO)

Addenda Capital Inc. lessened its stake in The Coca-Cola Company (NYSE:KO) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 94,413 shares of the company’s stock after selling 252 shares during the period. Addenda Capital Inc.’s holdings in Coca-Cola were worth $5,821,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in KO. Tidemark LLC bought a new position in Coca-Cola during the fourth quarter worth about $26,000. Private Wealth Management Group LLC bought a new position in Coca-Cola during the fourth quarter worth about $27,000. ZRC Wealth Management LLC lifted its stake in Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares during the period. Criterion Capital Advisors LLC bought a new position in Coca-Cola during the fourth quarter worth about $30,000. Finally, Frazier Financial Advisors LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth approximately $31,000. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the subject of several recent analyst reports. Barclays raised their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Morgan Stanley raised their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. BNP Paribas initiated coverage on shares of Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Finally, Evercore ISI raised their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.83.

Insider Transactions at Coca-Cola

In other news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the transaction, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the transaction, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the transaction, the insider now directly owns 218,880 shares in the company, valued at $13,644,979.20. The disclosure for this sale can be found here. Insiders have sold a total of 223,665 shares of company stock valued at $13,995,465 over the last three months. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Price Performance

Shares of KO stock opened at $63.65 on Friday. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.36. The stock has a market cap of $274.20 billion, a PE ratio of 25.46, a PEG ratio of 3.61 and a beta of 0.59. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The firm’s 50 day moving average price is $62.72 and its two-hundred day moving average price is $60.77.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same period last year, the firm earned $0.68 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts forecast that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.05%. Coca-Cola’s dividend payout ratio is 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.