The Coca-Cola Company (NYSE:KO) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. reduced its holdings in shares of The Coca-Cola Company (NYSE:KO) by 15.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,285,135 shares of the company’s stock after selling 771,151 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.10% of Coca-Cola worth $272,749,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Millennium Group LLC acquired a new position in shares of Coca-Cola during the 2nd quarter worth about $26,000. Tidemark LLC purchased a new stake in shares of Coca-Cola in the 4th quarter valued at about $26,000. ESL Trust Services LLC purchased a new stake in shares of Coca-Cola in the 1st quarter valued at about $28,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Coca-Cola in the 1st quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. lifted its holdings in shares of Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on KO shares. Citigroup boosted their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Barclays boosted their target price on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Wells Fargo & Company boosted their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Morgan Stanley boosted their target price on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Stock Performance

Shares of KO stock opened at $71.64 on Friday. The company has a market cap of $308.62 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The stock has a 50 day simple moving average of $69.13 and a 200-day simple moving average of $64.34. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

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

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,507,516.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the 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 sale, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nancy Quan sold 19,304 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,507,516.80. The disclosure for this sale can be found here. Insiders have sold a total of 974,715 shares of company stock worth $579,704,927 in the last quarter. Company insiders own 0.97% of the company’s stock.

Coca-Cola Company 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.