Sequoia Financial Advisors LLC Decreases Holdings in Coca-Cola Co (The) (NYSE:KO)

Sequoia Financial Advisors LLC cut its holdings in shares of Coca-Cola Co (The) (NYSE:KO) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,542 shares of the company’s stock after selling 799 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Coca-Cola were worth $865,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of KO. PrairieView Partners LLC purchased a new position in shares of Coca-Cola during the first quarter worth approximately $27,000. Pearl River Capital LLC purchased a new position in shares of Coca-Cola during the first quarter worth approximately $30,000. Stonebridge Financial Planning Group LLC purchased a new position in shares of Coca-Cola during the fourth quarter worth approximately $38,000. HighMark Wealth Management LLC bought a new position in shares of Coca-Cola in the fourth quarter worth approximately $44,000. Finally, Danda Trouve Investment Management Inc. bought a new position in shares of Coca-Cola in the fourth quarter worth approximately $54,000. 67.93% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola stock traded down $0.14 on Friday, hitting $45.03. 13,007,667 shares of the stock traded hands, compared to its average volume of 17,496,358. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 1.57. The firm has a market cap of $194.00 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 5.01 and a beta of 0.56. The business’s fifty day simple moving average is $45.85 and its 200 day simple moving average is $51.99. Coca-Cola Co has a 1 year low of $36.27 and a 1 year high of $60.13.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.44 by $0.07. The business had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.32 billion. Coca-Cola had a return on equity of 45.26% and a net margin of 26.95%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 earnings per share. As a group, analysts predict that Coca-Cola Co will post 1.87 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.64%. The ex-dividend date is Friday, June 12th. Coca-Cola’s dividend payout ratio is currently 77.73%.

KO has been the topic of several recent analyst reports. UBS Group raised their target price on shares of Coca-Cola from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Barclays restated a “buy” rating and issued a $50.00 target price on shares of Coca-Cola in a report on Thursday, April 23rd. SunTrust Banks restated an “outperform” rating and issued a $65.00 target price on shares of Coca-Cola in a report on Friday, January 31st. They noted that the move was a valuation call. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Wednesday, March 25th. Finally, Goldman Sachs Group initiated coverage on shares of Coca-Cola in a report on Wednesday, April 1st. They issued a “neutral” rating and a $46.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $54.55.

In other news, CEO James Quincey sold 66,673 shares of Coca-Cola stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $59.08, for a total value of $3,939,040.84. Following the completion of the transaction, the chief executive officer now owns 467,407 shares of the company’s stock, valued at approximately $27,614,405.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Lisa Chang purchased 1,650 shares of the stock in a transaction dated Monday, April 27th. The stock was bought at an average cost of $46.74 per share, with a total value of $77,121.00. Following the transaction, the senior vice president now owns 5,826 shares in the company, valued at $272,307.24. The disclosure for this purchase can be found here. Company insiders own 1.01% of the company’s stock.

About Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

Further Reading: Beta

Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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