St. Johns Investment Management Company LLC Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

St. Johns Investment Management Company LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,163 shares of the company’s stock after selling 399 shares during the quarter. Coca-Cola accounts for approximately 1.3% of St. Johns Investment Management Company LLC’s holdings, making the stock its 20th biggest position. St. Johns Investment Management Company LLC’s holdings in Coca-Cola were worth $2,814,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KO. New Millennium Group LLC acquired a new position in shares of Coca-Cola during the second quarter worth about $26,000. Quarry LP acquired a new position in Coca-Cola during the 2nd quarter worth approximately $27,000. Redmont Wealth Advisors LLC purchased a new position in shares of Coca-Cola during the 1st quarter worth approximately $28,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola in the 1st quarter valued at approximately $28,000. Finally, DiNuzzo Private Wealth Inc. boosted its stake in shares of Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after buying an additional 206 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley decreased their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday. Royal Bank of Canada boosted their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Barclays dropped their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $71.80.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,074,330.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 319,005 shares of company stock worth $22,198,147. 0.97% of the stock is currently owned by insiders.

Coca-Cola Price Performance

NYSE:KO opened at $66.92 on Friday. The Coca-Cola Company has a 12-month low of $55.10 and a 12-month high of $73.53. The firm has a market cap of $288.42 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 3.91 and a beta of 0.60. The company’s 50-day moving average is $70.66 and its two-hundred day moving average is $66.02. 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 announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion for 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 company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 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.