1620 Investment Advisors Inc. Reduces Stock Holdings in The Coca-Cola Company (NYSE:KO)

1620 Investment Advisors Inc. reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 43.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 884 shares of the company’s stock after selling 679 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Coca-Cola were worth $64,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. New Millennium Group LLC acquired a new stake in shares of Coca-Cola during the second quarter valued at about $26,000. Quarry LP acquired a new stake in Coca-Cola in the 2nd quarter valued at approximately $27,000. ESL Trust Services LLC purchased a new stake in Coca-Cola in the first quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. lifted its stake 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 purchasing an additional 206 shares in the last quarter. Finally, Mount Lucas Management LP acquired a new stake in shares of Coca-Cola in the second quarter valued at $38,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on KO. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Bank of America increased their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. TD Cowen increased their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, 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 note on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

Insider Buying and Selling at Coca-Cola

In other news, EVP Lisa Chang sold 58,122 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the sale, the executive vice president now owns 74,067 shares in the company, valued at $5,074,330.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Nancy Quan sold 18,482 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total value of $3,981,938.22. Following the completion of the sale, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,074,330.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 319,005 shares of company stock worth $22,198,147. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $65.92 on Thursday. The firm’s fifty day simple moving average is $70.47 and its 200-day simple moving average is $66.22. The Coca-Cola Company has a 12 month low of $56.06 and a 12 month high of $73.53. The stock has a market capitalization of $283.97 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 3.91 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.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period in the previous year, the business posted $0.74 earnings per share. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. As a group, equities 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. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 2.94%. Coca-Cola’s payout ratio is 80.17%.

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.