Symmetry Partners LLC Sells 3,427 Shares of The Coca-Cola Company (NYSE:KO)

Symmetry Partners LLC decreased its position in The Coca-Cola Company (NYSE:KO) by 5.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,044 shares of the company’s stock after selling 3,427 shares during the quarter. Symmetry Partners LLC’s holdings in Coca-Cola were worth $3,315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Summitry LLC boosted its position in shares of Coca-Cola by 1.7% during the first quarter. Summitry LLC now owns 9,668 shares of the company’s stock valued at $600,000 after purchasing an additional 159 shares in the last quarter. Ten Capital Wealth Advisors LLC increased its stake in shares of Coca-Cola by 4.7% in the 1st quarter. Ten Capital Wealth Advisors LLC now owns 3,584 shares of the company’s stock worth $222,000 after acquiring an additional 162 shares in the last quarter. Naples Global Advisors LLC lifted its position in Coca-Cola by 0.7% during the 1st quarter. Naples Global Advisors LLC now owns 23,188 shares of the company’s stock valued at $1,448,000 after acquiring an additional 165 shares during the period. McKinley Carter Wealth Services Inc. lifted its holdings in shares of Coca-Cola by 1.3% during the first quarter. McKinley Carter Wealth Services Inc. now owns 12,780 shares of the company’s stock valued at $793,000 after purchasing an additional 165 shares during the last quarter. Finally, Castleview Partners LLC boosted its position in shares of Coca-Cola by 4.4% in the 1st quarter. Castleview Partners LLC now owns 3,973 shares of the company’s stock worth $246,000 after purchasing an additional 167 shares in the last quarter. 68.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on KO shares. Wedbush increased their target price on Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Royal Bank of Canada upped their target price on shares of Coca-Cola from $69.00 to $70.00 in a research note on Thursday, July 27th. Barclays raised their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. StockNews.com initiated coverage on Coca-Cola in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, HSBC cut their target price on Coca-Cola from $77.00 to $74.00 in a research note on Wednesday, June 7th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.33.

Coca-Cola Stock Performance

Coca-Cola stock traded down $0.03 during midday trading on Thursday, hitting $58.41. The stock had a trading volume of 1,742,795 shares, compared to its average volume of 12,853,135. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The Coca-Cola Company has a 52-week low of $54.01 and a 52-week high of $64.99. The company has a market capitalization of $252.58 billion, a PE ratio of 24.05, a P/E/G ratio of 3.42 and a beta of 0.55. The firm’s fifty day moving average is $60.62 and its two-hundred day moving average is $61.28.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. The firm had revenue of $12 billion during the quarter, compared to analysts’ expectations of $11.74 billion. During the same period in the prior year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, research analysts forecast that The Coca-Cola Company will post 2.63 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.84 annualized dividend and a dividend yield of 3.15%. Coca-Cola’s payout ratio is 75.72%.

Insider Transactions at Coca-Cola

In related news, SVP Beatriz R. Perez sold 50,000 shares of Coca-Cola stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the sale, the senior vice president now owns 143,383 shares of the company’s stock, valued at approximately $8,984,378.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coca-Cola news, CFO John Murphy sold 156,290 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $62.10, for a total transaction of $9,705,609.00. Following the completion of the transaction, the chief financial officer now owns 228,830 shares of the company’s stock, valued at approximately $14,210,343. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Beatriz R. Perez sold 50,000 shares of Coca-Cola stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $62.66, for a total value of $3,133,000.00. Following the completion of the sale, the senior vice president now directly owns 143,383 shares in the company, valued at $8,984,378.78. The disclosure for this sale can be found here. Insiders sold a total of 227,364 shares of company stock valued at $14,122,016 over the last 90 days. Company insiders own 1.00% 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.