Handelsinvest Investeringsforvaltning Sells 5,499 Shares of The Coca-Cola Company (NYSE:KO)

Handelsinvest Investeringsforvaltning reduced its holdings in The Coca-Cola Company (NYSE:KO) by 15.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,436 shares of the company’s stock after selling 5,499 shares during the quarter. Coca-Cola accounts for about 0.9% of Handelsinvest Investeringsforvaltning’s investment portfolio, making the stock its 19th largest holding. Handelsinvest Investeringsforvaltning’s holdings in Coca-Cola were worth $1,862,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Patrick M Sweeney & Associates Inc. bought a new position in shares of Coca-Cola during the fourth quarter worth about $410,000. Beacon Pointe Advisors LLC raised its holdings in shares of Coca-Cola by 24.7% in the fourth quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock valued at $26,549,000 after purchasing an additional 89,139 shares during the last quarter. Birchcreek Wealth Management LLC lifted its position in shares of Coca-Cola by 12.6% in the fourth quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock worth $267,000 after purchasing an additional 507 shares in the last quarter. Smart Money Group LLC boosted its stake in shares of Coca-Cola by 21.6% during the 4th quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock worth $291,000 after buying an additional 877 shares during the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in Coca-Cola by 3.2% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 46,470 shares of the company’s stock valued at $2,738,000 after purchasing an additional 1,455 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. UBS Group boosted their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. BNP Paribas assumed coverage on Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price on the stock. Morgan Stanley boosted their price target on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Evercore ISI boosted their price target on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Finally, Barclays boosted their price target on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $68.83.

Coca-Cola Price Performance

Shares of KO stock opened at $63.24 on Wednesday. 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 Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.36. The company has a market cap of $272.44 billion, a P/E ratio of 25.26, a P/E/G ratio of 3.60 and a beta of 0.59. The business has a fifty day simple moving average of $62.77 and a 200 day simple moving average of $60.81.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data 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 return on equity of 42.74% and a net margin of 23.41%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the company earned $0.68 EPS. Coca-Cola’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a $0.485 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.07%. Coca-Cola’s payout ratio is presently 77.60%.

Insiders Place Their Bets

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction dated Friday, June 14th. The stock was 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 of the company’s stock, valued at $13,644,979.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the sale, the executive vice president now directly 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. Insiders sold a total of 223,665 shares of company stock valued at $13,995,465 in the last 90 days. Corporate 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.