iA Global Asset Management Inc. Sells 28,899 Shares of The Coca-Cola Company (NYSE:KO)

iA Global Asset Management Inc. cut its position in The Coca-Cola Company (NYSE:KO) by 67.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,752 shares of the company’s stock after selling 28,899 shares during the quarter. iA Global Asset Management Inc.’s holdings in Coca-Cola were worth $875,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in KO. Capital Advisors Ltd. LLC grew its position in shares of Coca-Cola by 4.4% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after buying an additional 153 shares during the last quarter. Liberty Capital Management Inc. boosted its holdings in Coca-Cola by 3.7% in the second quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock valued at $275,000 after acquiring an additional 155 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in Coca-Cola by 0.4% in the second quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock valued at $2,699,000 after acquiring an additional 160 shares in the last quarter. Joule Financial LLC increased its position in Coca-Cola by 3.6% during the 2nd quarter. Joule Financial LLC now owns 4,867 shares of the company’s stock valued at $312,000 after purchasing an additional 167 shares during the period. Finally, Community Bank & Trust Waco Texas raised its holdings in Coca-Cola by 0.6% in the 1st quarter. Community Bank & Trust Waco Texas now owns 30,262 shares of the company’s stock worth $1,851,000 after purchasing an additional 168 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In related news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,074,910 shares of company stock worth $585,972,318. 0.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Citigroup lifted their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. TD Cowen increased their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. BNP Paribas began coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target for the company. Finally, Bank of America upped their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.73.

Coca-Cola Price Performance

Shares of NYSE KO opened at $72.47 on Friday. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $72.57. The company has a 50 day moving average of $66.46 and a 200 day moving average of $63.01. 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 firm has a market cap of $312.20 billion, a P/E ratio of 28.99, a PEG ratio of 3.80 and a beta of 0.59.

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

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is currently 77.60%.

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.