HCR Wealth Advisors Sells 265 Shares of The Coca-Cola Company (NYSE:KO)

HCR Wealth Advisors trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,882 shares of the company’s stock after selling 265 shares during the quarter. HCR Wealth Advisors’ holdings in Coca-Cola were worth $710,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in KO. Swedbank AB acquired a new stake in shares of Coca-Cola during the first quarter worth $102,604,000. BDF Gestion acquired a new position in shares of Coca-Cola during the second quarter worth about $7,421,000. Duality Advisers LP grew its holdings in shares of Coca-Cola by 191.1% during the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock worth $6,843,000 after buying an additional 73,434 shares in the last quarter. TD Asset Management Inc lifted its stake in Coca-Cola by 0.7% in the 1st quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock valued at $179,578,000 after acquiring an additional 20,048 shares in the last quarter. Finally, New Mexico Educational Retirement Board boosted its position in Coca-Cola by 11.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock worth $14,013,000 after acquiring an additional 23,500 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 18,482 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,398,603.50. The trade was 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 news, CEO James Quincey sold 42,397 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,398,603.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 376,096 shares of company stock worth $25,982,352 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

KO stock traded up $0.32 during trading hours on Friday, hitting $69.57. 8,786,318 shares of the stock were exchanged, compared to its average volume of 13,216,886. The company has a 50-day simple moving average of $70.51 and a two-hundred day simple moving average of $65.39. The firm has a market capitalization of $299.70 billion, a P/E ratio of 27.83, a P/E/G ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 12 month low of $52.43 and a 12 month high of $73.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The business’s revenue was up 3.3% on a year-over-year basis. On average, 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 disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.485 per share. The ex-dividend date was Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.79%. Coca-Cola’s dividend payout ratio is 77.60%.

Analysts Set New Price Targets

KO has been the subject of several recent research reports. Royal Bank of Canada increased their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Bank of America upped their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. TD Cowen raised their price target 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 upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley raised their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.33.

Coca-Cola 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.