Atticus Wealth Management LLC Reduces Position in The Coca-Cola Company (NYSE:KO)

Atticus Wealth Management LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,228 shares of the company’s stock after selling 600 shares during the quarter. Coca-Cola comprises approximately 2.2% of Atticus Wealth Management LLC’s investment portfolio, making the stock its 11th biggest holding. Atticus Wealth Management LLC’s holdings in Coca-Cola were worth $6,683,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Tidemark LLC purchased a new stake in shares of Coca-Cola during the fourth quarter valued at $26,000. Private Wealth Management Group LLC purchased a new stake in shares of Coca-Cola during the fourth quarter valued at $27,000. ZRC Wealth Management LLC grew its holdings in shares of Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after buying an additional 320 shares during the last quarter. Criterion Capital Advisors LLC purchased a new stake in Coca-Cola in the fourth quarter valued at $30,000. Finally, Frazier Financial Advisors LLC purchased a new stake in Coca-Cola in the fourth quarter valued at $31,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, June 14th. UBS Group upped their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Evercore ISI upped their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. BNP Paribas assumed coverage on shares of Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Finally, Morgan Stanley upped their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.83.

Coca-Cola Price Performance

Shares of KO stock traded down $0.26 during mid-day trading on Friday, hitting $63.65. 17,358,827 shares of the stock were exchanged, compared to its average volume of 11,241,235. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.36. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The firm has a fifty day moving average of $62.72 and a 200 day moving average of $60.78. The company has a market cap of $274.20 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59.

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

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.05%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction dated 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 sale, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Monica Howard Douglas sold 8,874 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the sale, the executive vice president now owns 33,638 shares of the company’s stock, valued at approximately $2,129,621.78. The disclosure for this sale can be found here. Insiders sold a total of 223,665 shares of company stock worth $13,995,465 in the last 90 days. Insiders own 0.97% of the company’s stock.

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.