Hollencrest Capital Management Sells 877 Shares of The Coca-Cola Company (NYSE:KO)

Hollencrest Capital Management lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 42.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,202 shares of the company’s stock after selling 877 shares during the quarter. Hollencrest Capital Management’s holdings in Coca-Cola were worth $86,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in KO. Capital Performance Advisors LLP bought a new stake in Coca-Cola during the third quarter valued at about $129,000. Philip James Wealth Mangement LLC purchased a new stake in shares of Coca-Cola during the third quarter valued at about $5,111,000. Stiles Financial Services Inc boosted its holdings in shares of Coca-Cola by 0.9% in the 3rd quarter. Stiles Financial Services Inc now owns 25,698 shares of the company’s stock valued at $1,847,000 after buying an additional 228 shares in the last quarter. AIA Group Ltd grew its position in shares of Coca-Cola by 6.9% in the 3rd quarter. AIA Group Ltd now owns 39,344 shares of the company’s stock worth $2,827,000 after buying an additional 2,529 shares during the last quarter. Finally, Smith Thornton Advisors LLC raised its stake in shares of Coca-Cola by 0.9% during the 3rd quarter. Smith Thornton Advisors LLC now owns 22,648 shares of the company’s stock worth $1,627,000 after acquiring an additional 210 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

NYSE:KO opened at $63.96 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock has a market capitalization of $275.53 billion, a PE ratio of 26.43, a P/E/G ratio of 3.87 and a beta of 0.61. The Coca-Cola Company has a fifty-two week low of $56.06 and a fifty-two week high of $73.53. The company has a fifty day moving average of $69.56 and a two-hundred day moving average of $66.44.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The company’s revenue for the quarter 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 declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,150,619.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Coca-Cola news, CEO James Quincey sold 42,397 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 203,748 shares of company stock valued at $14,274,431. 0.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on KO shares. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Wells Fargo & Company upped their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Barclays lowered their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Finally, Truist Financial lifted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.80.

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.