Greenwich Wealth Management LLC Lowers Holdings in The Coca-Cola Company (NYSE:KO)

Greenwich Wealth Management LLC lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 5.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,205 shares of the company’s stock after selling 228 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Coca-Cola were worth $268,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in KO. Price T Rowe Associates Inc. MD boosted its holdings in Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares in the last quarter. Fisher Asset Management LLC grew its stake in Coca-Cola by 11,127.2% in the 4th quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock valued at $293,043,000 after acquiring an additional 4,928,441 shares during the last quarter. Pathstone Holdings LLC purchased a new position in Coca-Cola during the 4th quarter valued at about $193,342,000. Putnam Investments LLC raised its position in Coca-Cola by 32.8% during the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after acquiring an additional 2,973,234 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Coca-Cola by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after purchasing an additional 2,964,850 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. TD Cowen raised their price objective 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. Argus boosted their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Royal Bank of Canada increased their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Bank of America boosted their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, BNP Paribas began coverage on shares of Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target for the company. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.73.

Coca-Cola Stock Up 0.3 %

Shares of Coca-Cola stock opened at $71.41 on Monday. The company has a fifty day moving average price of $68.28 and a 200 day moving average price of $63.95. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $73.53. The stock has a market cap of $307.63 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60.

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

Coca-Cola Dividend Announcement

The company also recently disclosed 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. This represents a $1.94 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s payout ratio is currently 77.60%.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO James Quincey sold 102,533 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Insiders have sold 974,715 shares of company stock worth $579,704,927 over the last ninety days. 0.97% of the stock is owned by insiders.

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.