The Coca-Cola Company (NYSE:KO) Shares Sold by Stonebridge Capital Management Inc.

Stonebridge Capital Management Inc. reduced its stake in The Coca-Cola Company (NYSE:KO) by 6.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,388 shares of the company’s stock after selling 6,813 shares during the quarter. Coca-Cola comprises approximately 3.0% of Stonebridge Capital Management Inc.’s portfolio, making the stock its 8th biggest holding. Stonebridge Capital Management Inc.’s holdings in Coca-Cola were worth $6,467,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in KO. Venturi Wealth Management LLC acquired a new stake in Coca-Cola in the 1st quarter worth about $25,000. Freedom Wealth Alliance LLC acquired a new stake in shares of Coca-Cola in the fourth quarter worth approximately $25,000. Fortis Capital Advisors LLC purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $30,000. NewSquare Capital LLC increased its position in Coca-Cola by 62.5% during the first quarter. NewSquare Capital LLC now owns 507 shares of the company’s stock worth $31,000 after purchasing an additional 195 shares during the last quarter. Finally, KB Financial Partners LLC purchased a new position in Coca-Cola during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 68.96% of the company’s stock.

Analyst Ratings Changes

KO has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Coca-Cola from $67.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. Royal Bank of Canada increased their price objective on shares of Coca-Cola from $69.00 to $70.00 in a research report on Thursday, July 27th. Wedbush lifted their target price on shares of Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. StockNews.com assumed coverage on Coca-Cola in a report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Barclays boosted their price objective on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.33.

Insiders Place Their Bets

In related news, SVP Beatriz R. Perez sold 50,000 shares of the company’s 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 directly owns 143,383 shares of the company’s stock, valued at approximately $8,984,378.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO John Murphy sold 156,290 shares of Coca-Cola stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $62.10, for a total value of $9,705,609.00. Following the completion of the transaction, the chief financial officer now directly owns 228,830 shares of the company’s stock, valued at approximately $14,210,343. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Beatriz R. Perez sold 50,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $8,984,378.78. The disclosure for this sale can be found here. Insiders have sold a total of 227,364 shares of company stock valued at $14,122,016 in the last quarter. Insiders own 1.00% of the company’s stock.

Coca-Cola Stock Up 0.0 %

KO stock opened at $58.46 on Friday. 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 firm has a 50 day simple moving average of $60.57 and a 200-day simple moving average of $61.26. The company has a market capitalization of $252.78 billion, a P/E ratio of 24.06, a PEG ratio of 3.43 and a beta of 0.55. The Coca-Cola Company has a twelve month low of $54.01 and a twelve month high of $64.99.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.06. The company had revenue of $12 billion during the quarter, compared to analyst estimates of $11.74 billion. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $0.70 EPS. On average, equities research analysts predict that The Coca-Cola Company will post 2.63 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 Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.15%. The ex-dividend date is Thursday, September 14th. Coca-Cola’s payout ratio is currently 75.72%.

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.