Riverview Capital Advisers LLC Sells 1,206 Shares of The Coca-Cola Company (NYSE:KO)

Riverview Capital Advisers LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,613 shares of the company’s stock after selling 1,206 shares during the quarter. Coca-Cola makes up approximately 1.3% of Riverview Capital Advisers LLC’s holdings, making the stock its 27th largest position. Riverview Capital Advisers LLC’s holdings in Coca-Cola were worth $3,858,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KO. Mathes Company Inc. boosted its position in shares of Coca-Cola by 2.6% during the second quarter. Mathes Company Inc. now owns 36,145 shares of the company’s stock valued at $2,301,000 after purchasing an additional 900 shares in the last quarter. Intrepid Financial Planning Group LLC bought a new stake in shares of Coca-Cola during the 2nd quarter valued at $201,000. Middleton & Co. Inc. MA increased its stake in shares of Coca-Cola by 8.7% in the 2nd quarter. Middleton & Co. Inc. MA now owns 9,325 shares of the company’s stock worth $594,000 after acquiring an additional 750 shares in the last quarter. Seven Eight Capital LP bought a new stake in Coca-Cola during the second quarter worth about $995,000. Finally, CCLA Investment Management increased its stake in shares of Coca-Cola by 9.8% during the second quarter. CCLA Investment Management now owns 2,015,129 shares of the company’s stock valued at $128,657,000 after purchasing an additional 179,251 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO opened at $71.76 on Thursday. The stock has a 50-day simple moving average of $68.83 and a two-hundred day simple moving average of $64.18. 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 52-week low of $51.55 and a 52-week high of $73.53. The firm has a market capitalization of $309.14 billion, a PE ratio of 28.70, a P/E/G ratio of 3.93 and a beta of 0.60.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same period last year, the firm earned $0.78 EPS. The company’s revenue was up 3.3% on a year-over-year basis. Analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insider Transactions at Coca-Cola

In related news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Over the last three months, insiders have sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Argus lifted their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Morgan Stanley upped their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. BNP Paribas assumed coverage on shares of Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. Finally, Bank of America lifted their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $71.07.

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.