The Coca-Cola Company (NYSE:KO) Shares Sold by N.E.W. Advisory Services LLC

N.E.W. Advisory Services LLC reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,960 shares of the company’s stock after selling 188 shares during the period. N.E.W. Advisory Services LLC’s holdings in Coca-Cola were worth $646,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Pennsylvania Capital Management Inc. ADV acquired a new stake in Coca-Cola in the third quarter worth $207,000. FORVIS Wealth Advisors LLC increased its holdings in shares of Coca-Cola by 49.7% in the 3rd quarter. FORVIS Wealth Advisors LLC now owns 70,116 shares of the company’s stock worth $3,925,000 after acquiring an additional 23,270 shares during the period. WESPAC Advisors LLC boosted its stake in Coca-Cola by 0.8% during the 3rd quarter. WESPAC Advisors LLC now owns 32,679 shares of the company’s stock valued at $1,829,000 after purchasing an additional 255 shares during the period. Calamos Advisors LLC boosted its stake in Coca-Cola by 0.6% during the 3rd quarter. Calamos Advisors LLC now owns 1,272,577 shares of the company’s stock valued at $71,239,000 after purchasing an additional 7,966 shares during the period. Finally, Access Financial Services Inc. grew its position in Coca-Cola by 3.9% in the 3rd quarter. Access Financial Services Inc. now owns 27,728 shares of the company’s stock worth $1,552,000 after purchasing an additional 1,035 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the subject of several recent analyst reports. Citigroup increased their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. UBS Group lifted their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Evercore ISI boosted their price objective on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. raised their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Barclays upped their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.27.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $26,968,753.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Insiders have sold a total of 323,107 shares of company stock worth $19,657,742 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

KO traded up $0.19 on Monday, reaching $62.36. The stock had a trading volume of 9,309,869 shares, compared to its average volume of 13,967,127. The firm has a 50-day moving average of $60.28 and a 200-day moving average of $59.25. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.25. The company has a market capitalization of $268.64 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. Coca-Cola’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio is 77.60%.

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.