Edgestream Partners L.P. Sells 31,096 Shares of The Coca-Cola Company (NYSE:KO)

Edgestream Partners L.P. lowered its stake in The Coca-Cola Company (NYSE:KO) by 71.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,205 shares of the company’s stock after selling 31,096 shares during the quarter. Edgestream Partners L.P.’s holdings in Coca-Cola were worth $777,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KO. Elwood & Goetz Wealth Advisory Group LLC lifted its stake in shares of Coca-Cola by 2.2% during the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after buying an additional 149 shares in the last quarter. Drive Wealth Management LLC raised its stake in Coca-Cola by 1.6% during the 2nd quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock valued at $630,000 after purchasing an additional 151 shares during the period. Capital Advisors Ltd. LLC boosted its stake in Coca-Cola by 4.4% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after purchasing an additional 153 shares during the period. Liberty Capital Management Inc. grew its holdings in Coca-Cola by 3.7% during the 2nd quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock valued at $275,000 after buying an additional 155 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV boosted its position in shares of Coca-Cola by 0.4% during the second quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock worth $2,699,000 after acquiring an additional 160 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In other news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO James Quincey sold 102,533 shares of the business’s 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 completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock worth $579,704,927 over the last three months. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KO. 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. Royal Bank of Canada upped their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Barclays lifted their target price on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Citigroup boosted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.07.

Coca-Cola Price Performance

NYSE KO opened at $71.64 on Friday. The company has a market cap of $308.62 billion, a PE ratio of 28.66, a P/E/G ratio of 3.93 and a beta of 0.60. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $73.53. 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 firm’s 50 day moving average price is $69.13 and its 200-day moving average price is $64.34.

Coca-Cola (NYSE:KO) last released its quarterly 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. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same period in the previous year, the company posted $0.78 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.71%. Coca-Cola’s dividend payout ratio (DPR) is presently 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.