The Coca-Cola Company (NYSE:KO) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 1,483,414 shares of the company’s stock after selling 9,158 shares during the quarter. Coca-Cola makes up about 1.0% of Johnson Investment Counsel Inc.’s portfolio, making the stock its 25th largest holding. Johnson Investment Counsel Inc.’s holdings in Coca-Cola were worth $94,419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Achmea Investment Management B.V. increased its position in shares of Coca-Cola by 1.7% during the second quarter. Achmea Investment Management B.V. now owns 143,615 shares of the company’s stock worth $9,141,000 after purchasing an additional 2,350 shares in the last quarter. Y.D. More Investments Ltd increased its position in Coca-Cola by 190.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 1,765 shares of the company’s stock valued at $112,000 after acquiring an additional 1,158 shares during the period. Qsemble Capital Management LP acquired a new position in Coca-Cola in the 2nd quarter valued at about $4,300,000. Linscomb Wealth Inc. increased its position in Coca-Cola by 2.7% in the 2nd quarter. Linscomb Wealth Inc. now owns 26,241 shares of the company’s stock valued at $1,670,000 after acquiring an additional 695 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its position in Coca-Cola by 138.7% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 14,029 shares of the company’s stock valued at $891,000 after acquiring an additional 8,151 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $71.06 on Thursday. The business’s 50 day simple moving average is $67.97 and its 200-day simple moving average is $63.78. The firm has a market capitalization of $306.10 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 3.94 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 EPS. As a group, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s payout ratio is currently 77.60%.

Analyst Ratings Changes

KO has been the topic of several recent research reports. TD Cowen boosted their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. BNP Paribas initiated coverage on Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $70.73.

Insider Activity at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO James Quincey sold 42,397 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,055,606 shares of company stock valued at $584,747,672. 0.97% of the stock is owned by corporate insiders.

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.