Acorn Financial Advisory Services Inc. ADV Decreases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Acorn Financial Advisory Services Inc. ADV lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 9.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,058 shares of the company’s stock after selling 831 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in Coca-Cola were worth $579,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. New Millennium Group LLC acquired a new stake in shares of Coca-Cola during the second quarter worth $26,000. Quarry LP purchased a new stake in Coca-Cola during the 2nd quarter valued at about $27,000. ESL Trust Services LLC acquired a new position in shares of Coca-Cola in the first quarter valued at about $28,000. Hara Capital LLC purchased a new position in shares of Coca-Cola in the third quarter worth about $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola during the third quarter worth about $36,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. TD Cowen lifted their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their target price on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Citigroup boosted their price target on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.80.

Insider Buying and Selling at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO James Quincey sold 42,397 shares of the company’s 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 sale, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 203,748 shares of company stock valued at $14,274,431 in the last quarter. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE:KO traded up $0.26 during midday trading on Friday, hitting $63.92. The company’s stock had a trading volume of 14,719,308 shares, compared to its average volume of 13,338,074. The Coca-Cola Company has a 12-month low of $56.06 and a 12-month high of $73.53. The company has a market cap of $275.35 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The business’s 50 day simple moving average is $69.56 and its 200 day simple moving average is $66.44.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 EPS. On average, analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.04%. Coca-Cola’s payout ratio is 80.17%.

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.