Arkadios Wealth Advisors Sells 7,985 Shares of The Coca-Cola Company (NYSE:KO)

Arkadios Wealth Advisors trimmed its stake in The Coca-Cola Company (NYSE:KO) by 7.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,929 shares of the company’s stock after selling 7,985 shares during the quarter. Arkadios Wealth Advisors’ holdings in Coca-Cola were worth $7,037,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

KO has been the subject of several research analyst reports. Morgan Stanley reduced their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Citigroup increased their target price 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, JPMorgan Chase & Co. boosted their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $71.80.

Insider Activity

In other news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 319,005 shares of company stock valued at $22,198,147. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Price Performance

Coca-Cola stock traded down $0.38 during midday trading on Friday, reaching $66.92. The company’s stock had a trading volume of 11,138,127 shares, compared to its average volume of 13,253,075. The business has a 50-day moving average price of $70.66 and a 200-day moving average price of $66.02. The Coca-Cola Company has a 52 week low of $55.10 and a 52 week 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. The stock has a market cap of $288.42 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 3.91 and a beta of 0.60.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 EPS. On average, sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 2.90%. Coca-Cola’s dividend payout ratio is presently 78.54%.

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.