Evercore Wealth Management LLC Sells 2,720 Shares of The Coca-Cola Company (NYSE:KO)

Evercore Wealth Management LLC lessened its stake in The Coca-Cola Company (NYSE:KOGet Rating) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105,612 shares of the company’s stock after selling 2,720 shares during the period. Evercore Wealth Management LLC’s holdings in Coca-Cola were worth $6,548,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in KO. Nauset Wealth Management. LLC bought a new position in Coca-Cola during the first quarter worth about $27,000. Delos Wealth Advisors LLC raised its stake in shares of Coca-Cola by 4,770.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 487 shares of the company’s stock valued at $29,000 after acquiring an additional 477 shares during the last quarter. Carl Stuart Investment Advisor Inc. bought a new position in shares of Coca-Cola in the first quarter valued at approximately $34,000. Hillsdale Investment Management Inc. bought a new position in shares of Coca-Cola in the first quarter valued at approximately $35,000. Finally, Rational Advisors LLC bought a new position in shares of Coca-Cola in the first quarter valued at approximately $37,000. Institutional investors own 68.93% of the company’s stock.

Insiders Place Their Bets

In other news, Director Carolyn Everson acquired 983 shares of the stock in a transaction dated Wednesday, July 27th. The shares were bought at an average cost of $62.29 per share, for a total transaction of $61,231.07. Following the purchase, the director now directly owns 1,500 shares of the company’s stock, valued at $93,435. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Kathy Loveless sold 2,512 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $64.00, for a total value of $160,768.00. Following the transaction, the vice president now owns 1,370 shares in the company, valued at approximately $87,680. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Carolyn Everson purchased 983 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The stock was bought at an average price of $62.29 per share, for a total transaction of $61,231.07. Following the purchase, the director now owns 1,500 shares in the company, valued at approximately $93,435. The disclosure for this purchase can be found here. Insiders have sold 45,830 shares of company stock valued at $2,939,961 in the last three months. 0.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on KO. UBS Group lifted their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Morgan Stanley lowered their price target on shares of Coca-Cola from $76.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. HSBC raised their price target on shares of Coca-Cola from $72.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. StockNews.com raised shares of Coca-Cola from a “hold” rating to a “buy” rating in a report on Saturday, August 6th. Finally, Credit Suisse Group set a $68.00 price target on shares of Coca-Cola in a research report on Wednesday, July 20th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $69.59.

Coca-Cola Trading Up 0.3 %

Shares of NYSE:KO opened at $62.50 on Tuesday. The company’s 50-day moving average price is $63.10 and its two-hundred day moving average price is $62.80. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.13 and a quick ratio of 0.95. The Coca-Cola Company has a one year low of $52.28 and a one year high of $67.20. The stock has a market capitalization of $270.29 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 3.94 and a beta of 0.54.

Coca-Cola (NYSE:KOGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.67 by $0.03. Coca-Cola had a net margin of 23.16% and a return on equity of 42.13%. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $10.57 billion. During the same period in the previous year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities analysts forecast that The Coca-Cola Company will post 2.46 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 16th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.76 annualized dividend and a yield of 2.82%. Coca-Cola’s dividend payout ratio (DPR) is presently 79.64%.

About Coca-Cola

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The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

See Also

Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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