Intelligent Financial Strategies Cuts Stock Holdings in The Coca-Cola Company (NYSE:KO)

Intelligent Financial Strategies trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 27.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,128 shares of the company’s stock after selling 797 shares during the period. Intelligent Financial Strategies’ holdings in Coca-Cola were worth $154,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of KO. New Millennium Group LLC purchased a new position in Coca-Cola during the second quarter valued at $26,000. Quarry LP purchased a new position in shares of Coca-Cola in the 2nd quarter worth $27,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola in the 1st quarter worth $28,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after buying an additional 206 shares in the last quarter. Finally, Mount Lucas Management LP purchased a new position in shares of Coca-Cola in the 2nd quarter worth $38,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Trading Up 0.5 %

Shares of KO opened at $65.92 on Thursday. The Coca-Cola Company has a 1-year low of $56.06 and a 1-year high of $73.53. The company has a 50-day moving average of $70.47 and a 200 day moving average of $66.22. The firm has a market capitalization of $283.98 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 3.91 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the business posted $0.74 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 2.94%. Coca-Cola’s payout ratio is 77.60%.

Insider Activity

In other news, EVP Nancy Quan sold 18,482 shares of the 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 transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,398,603.50. This trade represents 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 accessible through this link. In other news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nancy Quan sold 18,482 shares of the 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 transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,398,603.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 319,005 shares of company stock worth $22,198,147. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on KO. Citigroup lifted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, TD Cowen lifted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. 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, the company has a consensus rating of “Moderate Buy” and an average target price of $71.80.

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.