Ade LLC Cuts Stock Holdings in The Coca-Cola Company (NYSE:KO)

Ade LLC reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,088 shares of the company’s stock after selling 300 shares during the period. Ade LLC’s holdings in Coca-Cola were worth $311,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in KO. CWA Asset Management Group LLC boosted its holdings in shares of Coca-Cola by 8.9% during the 3rd quarter. CWA Asset Management Group LLC now owns 7,882 shares of the company’s stock worth $441,000 after purchasing an additional 644 shares during the last quarter. Ancora Advisors LLC lifted its holdings in Coca-Cola by 3.9% in the third quarter. Ancora Advisors LLC now owns 42,809 shares of the company’s stock valued at $2,396,000 after acquiring an additional 1,593 shares during the last quarter. Caxton Associates LP lifted its holdings in Coca-Cola by 85.6% in the third quarter. Caxton Associates LP now owns 6,945 shares of the company’s stock valued at $389,000 after acquiring an additional 3,203 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in Coca-Cola by 6.0% in the third quarter. Rehmann Capital Advisory Group now owns 30,416 shares of the company’s stock valued at $1,703,000 after acquiring an additional 1,716 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Coca-Cola by 6.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,018,361 shares of the company’s stock valued at $112,988,000 after acquiring an additional 126,696 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Down 0.4 %

Shares of Coca-Cola stock traded down $0.26 during trading hours on Friday, reaching $63.65. 17,358,827 shares of the company were exchanged, compared to its average volume of 11,241,235. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.36. The stock’s fifty day moving average is $62.72 and its 200 day moving average is $60.78. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The firm has a market cap of $274.20 billion, a PE ratio of 25.46, a PEG ratio of 3.60 and a beta of 0.59.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.05%. Coca-Cola’s payout ratio is currently 77.60%.

Insider Buying and Selling

In related news, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the transaction, the executive vice president now owns 167,107 shares in the company, valued at $10,358,962.93. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the transaction, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. Over the last quarter, insiders sold 223,665 shares of company stock worth $13,995,465. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on KO shares. UBS Group upped their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Morgan Stanley boosted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Argus increased their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Finally, Barclays lifted their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.83.

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.