Sunpointe LLC Reduces Stake in The Coca-Cola Company (NYSE:KO)

Sunpointe LLC lowered its holdings in The Coca-Cola Company (NYSE:KO) by 9.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,879 shares of the company’s stock after selling 618 shares during the quarter. Sunpointe LLC’s holdings in Coca-Cola were worth $425,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. New Millennium Group LLC acquired a new stake in Coca-Cola during the 2nd quarter worth approximately $26,000. Quarry LP acquired a new stake in shares of Coca-Cola in the 2nd quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Coca-Cola in the 1st quarter valued at approximately $28,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola in the 1st quarter valued at approximately $28,000. Finally, DiNuzzo Private Wealth Inc. increased its stake in 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 in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on KO shares. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Bank of America raised their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. BNP Paribas assumed coverage on Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective on the stock. TD Cowen raised their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $71.33.

Insider Buying and Selling at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 356,792 shares of company stock worth $24,728,364 over the last 90 days. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 0.1 %

Shares of KO traded down $0.10 during midday trading on Wednesday, reaching $70.24. 588,036 shares of the company were exchanged, compared to its average volume of 13,111,680. The stock has a 50-day moving average price of $70.60 and a 200-day moving average price of $65.59. The company has a market cap of $302.59 billion, a price-to-earnings ratio of 28.14, a P/E/G ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 1-year low of $53.21 and a 1-year 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 quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.485 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.76%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

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.