The Coca-Cola Company (NYSE:KO) Stake Reduced by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. trimmed its holdings in The Coca-Cola Company (NYSE:KO) by 0.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 128,059 shares of the company’s stock after selling 484 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Coca-Cola were worth $9,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in KO. State of Alaska Department of Revenue boosted its position in shares of Coca-Cola by 4.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock valued at $32,895,000 after purchasing an additional 21,005 shares during the period. Swedbank AB acquired a new position in shares of Coca-Cola in the first quarter worth about $102,604,000. BDF Gestion purchased a new position in shares of Coca-Cola in the second quarter worth approximately $7,421,000. Nisa Investment Advisors LLC raised its holdings in shares of Coca-Cola by 10.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,149,209 shares of the company’s stock valued at $83,151,000 after acquiring an additional 107,374 shares during the period. Finally, Duality Advisers LP lifted its position in shares of Coca-Cola by 191.1% in the 1st quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock valued at $6,843,000 after acquiring an additional 73,434 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of several recent analyst reports. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Royal Bank of Canada increased their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, TD Cowen boosted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $71.80.

Coca-Cola Stock Performance

NYSE KO opened at $65.59 on Wednesday. The stock has a market cap of $282.54 billion, a P/E ratio of 26.23, a PEG ratio of 3.91 and a beta of 0.60. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a twelve month low of $55.42 and a twelve month high of $73.53. The company’s 50-day simple moving average is $70.54 and its 200 day simple moving average is $66.22.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 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 $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the company earned $0.74 EPS. Coca-Cola’s revenue was down .8% on a year-over-year basis. As a group, research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 77.60%.

Insiders Place Their Bets

In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 319,005 shares of company stock valued at $22,198,147. 0.97% of the stock is currently owned by corporate 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.