Profund Advisors LLC Sells 1,035 Shares of The Coca-Cola Company (NYSE:KO)

Profund Advisors LLC reduced its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,306 shares of the company’s stock after selling 1,035 shares during the quarter. Profund Advisors LLC’s holdings in Coca-Cola were worth $3,011,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. New Millennium Group LLC purchased a new position in shares of Coca-Cola in the second quarter valued at $26,000. Redmont Wealth Advisors LLC purchased a new position in Coca-Cola during the first quarter worth about $28,000. ESL Trust Services LLC purchased a new position in Coca-Cola during the first quarter worth about $28,000. DiNuzzo Private Wealth Inc. grew its position in Coca-Cola by 65.0% during the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after buying an additional 206 shares in the last quarter. Finally, Mount Lucas Management LP purchased a new position in Coca-Cola during the second quarter worth about $38,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Up 1.4 %

KO opened at $71.64 on Monday. The business has a 50 day simple moving average of $69.13 and a two-hundred day simple moving average of $64.37. The firm has a market capitalization of $308.62 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 3.93 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a one year low of $51.55 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 EPS. Analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.71%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Wall Street Analysts Forecast Growth

KO has been the subject of several recent analyst reports. Wells Fargo & Company boosted their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Royal Bank of Canada boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their target price on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Finally, BNP Paribas began coverage on Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $71.07.

Insiders Place Their Bets

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the company’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 transaction of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Cola Co Coca sold 598,619 shares of the company’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 in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 in the company, valued at approximately $30,987,070.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 974,715 shares of company stock worth $579,704,927. 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.