Arcus Capital Partners LLC Sells 5,125 Shares of The Coca-Cola Company (NYSE:KO)

Arcus Capital Partners LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 628,375 shares of the company’s stock after selling 5,125 shares during the quarter. Coca-Cola comprises about 16.3% of Arcus Capital Partners LLC’s holdings, making the stock its 2nd largest position. Arcus Capital Partners LLC’s holdings in Coca-Cola were worth $45,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of KO. New Millennium Group LLC purchased a new position in Coca-Cola in the 2nd quarter worth approximately $26,000. Quarry LP acquired a new stake in Coca-Cola during the 2nd quarter valued at $27,000. ESL Trust Services LLC purchased a new stake in Coca-Cola during the 1st quarter worth $28,000. Hara Capital LLC acquired a new position in Coca-Cola in the 3rd quarter worth $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola during the third quarter valued at about $36,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Down 0.9 %

Shares of NYSE:KO opened at $63.37 on Tuesday. The company has a 50 day moving average of $69.37 and a 200-day moving average of $66.52. The Coca-Cola Company has a one year low of $56.60 and a one year high of $73.53. The stock has a market cap of $272.99 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 3.88 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period last year, the company posted $0.74 EPS. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is 80.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KO. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. TD Cowen upped their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Citigroup lifted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 owns 223,330 shares of the company’s stock, valued at $15,968,095. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Quincey sold 42,397 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 203,748 shares of company stock worth $14,274,431 over the last ninety days. Company insiders own 0.97% of the company’s stock.

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.