ICW Investment Advisors LLC Cuts Stock Holdings in The Coca-Cola Company (NYSE:KO)

ICW Investment Advisors LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,416 shares of the company’s stock after selling 506 shares during the quarter. ICW Investment Advisors LLC’s holdings in Coca-Cola were worth $2,127,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. lifted its position in Coca-Cola by 1.2% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 118,989 shares of the company’s stock worth $7,574,000 after buying an additional 1,406 shares during the last quarter. Synergy Asset Management LLC lifted its position in Coca-Cola by 9.4% in the 2nd quarter. Synergy Asset Management LLC now owns 386,996 shares of the company’s stock worth $24,632,000 after buying an additional 33,385 shares during the last quarter. Arizona State Retirement System lifted its position in Coca-Cola by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 1,187,348 shares of the company’s stock worth $75,575,000 after buying an additional 8,707 shares during the last quarter. Childress Capital Advisors LLC lifted its position in Coca-Cola by 9.8% in the 2nd quarter. Childress Capital Advisors LLC now owns 13,874 shares of the company’s stock worth $883,000 after buying an additional 1,244 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Coca-Cola by 5.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,357,828 shares of the company’s stock worth $150,076,000 after buying an additional 121,925 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.1 %

Shares of NYSE KO traded up $0.10 during trading on Friday, reaching $71.27. The company had a trading volume of 2,089,638 shares, compared to its average volume of 13,107,924. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53. The stock has a market cap of $307.03 billion, a PE ratio of 28.47, a P/E/G ratio of 4.05 and a beta of 0.59. The business’s 50-day moving average is $67.33 and its 200 day moving average is $63.46. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. As a group, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio is 77.60%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Nikolaos Koumettis sold 80,891 shares of the firm’s 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 transaction, the insider now owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,074,910 shares of company stock valued at $585,972,318. 0.97% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

KO has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Argus boosted their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Royal Bank of Canada boosted their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. TD Cowen boosted their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $70.73.

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.