Redwood Financial Network Corp Reduces Stake in The Coca-Cola Company (NYSE:KO)

Redwood Financial Network Corp cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 5.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,094 shares of the company’s stock after selling 311 shares during the period. Redwood Financial Network Corp’s holdings in Coca-Cola were worth $324,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elwood & Goetz Wealth Advisory Group LLC increased its stake in Coca-Cola by 2.2% in the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after buying an additional 149 shares during the period. Drive Wealth Management LLC boosted its stake in shares of Coca-Cola by 1.6% during the second quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock valued at $630,000 after purchasing an additional 151 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in Coca-Cola by 4.4% in the second quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after buying an additional 153 shares in the last quarter. Liberty Capital Management Inc. raised its stake in Coca-Cola by 3.7% in the second quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock worth $275,000 after buying an additional 155 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its holdings in Coca-Cola by 0.4% during the second quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock worth $2,699,000 after buying an additional 160 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $71.87 on Tuesday. The company has a 50-day simple moving average of $67.65 and a 200-day simple moving average of $63.65. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The stock has a market capitalization of $309.75 billion, a price-to-earnings ratio of 28.75, a PEG ratio of 3.94 and a beta of 0.60. The Coca-Cola Company has a one year low of $51.55 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. During the same period in the prior year, the company posted $0.78 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.70%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KO. Royal Bank of Canada lifted their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Truist Financial lifted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.73.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were 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 directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola 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 completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the transaction, the insider now directly owns 218,880 shares in the company, valued at $13,644,979.20. The disclosure for this sale can be found here. In the last three months, insiders sold 1,055,606 shares of company stock valued at $584,747,672. Company insiders own 0.97% of the company’s stock.

Coca-Cola 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.