1834 Investment Advisors Co. Cuts Position in The Coca-Cola Company (NYSE:KO)

1834 Investment Advisors Co. decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 57.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,819 shares of the company’s stock after selling 5,177 shares during the period. 1834 Investment Advisors Co.’s holdings in Coca-Cola were worth $274,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at $26,000. Quarry LP bought a new position in shares of Coca-Cola during the second quarter valued at about $27,000. ESL Trust Services LLC bought a new stake in shares of Coca-Cola in the 1st quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the third quarter valued at approximately $36,000. Finally, Mount Lucas Management LP bought a new position in shares of Coca-Cola in the second quarter worth approximately $38,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO opened at $63.68 on Thursday. The firm has a market cap of $274.30 billion, a P/E ratio of 26.31, a PEG ratio of 3.96 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $56.06 and a twelve month high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a 50 day moving average of $69.90 and a 200 day moving average of $66.43.

Coca-Cola (NYSE:KO) last issued its 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. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the firm earned $0.74 EPS. Coca-Cola’s revenue was down .8% on a year-over-year basis. As a group, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 dividend on an annualized basis and a yield of 3.05%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insider Activity

In other news, EVP Nancy Quan sold 18,484 shares of the 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 transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the transaction, the executive vice president now owns 74,067 shares in the company, valued at $5,150,619.18. This trade represents a 0.00 % decrease in their ownership of the stock. 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 ninety days. 0.97% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on KO shares. Citigroup increased their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Barclays decreased their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Truist Financial upped their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley cut their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Five 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 company. According to data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

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.