Cohen Investment Advisors LLC Sells 2,854 Shares of The Coca-Cola Company (NYSE:KO)

Cohen Investment Advisors LLC lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 8.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 31,388 shares of the company’s stock after selling 2,854 shares during the period. Cohen Investment Advisors LLC’s holdings in Coca-Cola were worth $1,998,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Advisors Ltd. LLC increased its position in Coca-Cola by 4.4% during the second quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after acquiring an additional 153 shares during the period. Joule Financial LLC grew its position in shares of Coca-Cola by 3.6% during the 2nd quarter. Joule Financial LLC now owns 4,867 shares of the company’s stock worth $312,000 after purchasing an additional 167 shares in the last quarter. Community Bank & Trust Waco Texas increased its holdings in shares of Coca-Cola by 0.6% during the first quarter. Community Bank & Trust Waco Texas now owns 30,262 shares of the company’s stock worth $1,851,000 after purchasing an additional 168 shares during the period. Goelzer Investment Management Inc. raised its position in shares of Coca-Cola by 1.8% in the fourth quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock valued at $571,000 after buying an additional 169 shares in the last quarter. Finally, Premier Path Wealth Partners LLC boosted its stake in shares of Coca-Cola by 1.4% in the first quarter. Premier Path Wealth Partners LLC now owns 12,009 shares of the company’s stock valued at $729,000 after buying an additional 170 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of KO traded up $1.07 during trading hours on Monday, reaching $70.86. The stock had a trading volume of 12,910,136 shares, compared to its average volume of 12,989,852. 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 Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $70.92. The stock has a market capitalization of $305.26 billion, a PE ratio of 28.34, a PEG ratio of 3.80 and a beta of 0.59. The company’s 50-day moving average is $65.91 and its two-hundred day moving average is $62.80.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Analysts Set New Price Targets

KO has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Evercore ISI raised their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Morgan Stanley upped their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, BNP Paribas assumed coverage on shares of Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price for the company. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $70.20.

Insider Buying and Selling at Coca-Cola

In related news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $14,168,055.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $14,168,055.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,014,029 shares of company stock worth $581,682,074. 0.97% of the stock is currently owned by company insiders.

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.