Gilman Hill Asset Management LLC Sells 710 Shares of The Coca-Cola Company (NYSE:KO)

Gilman Hill Asset Management LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 6.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,460 shares of the company’s stock after selling 710 shares during the period. Gilman Hill Asset Management LLC’s holdings in Coca-Cola were worth $752,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. New Millennium Group LLC bought a new stake in shares of Coca-Cola in the 2nd quarter valued at about $26,000. Quarry LP bought a new stake in Coca-Cola in the second quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new stake in Coca-Cola in the first quarter worth $28,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola during the first quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. grew its holdings in shares of Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after buying an additional 206 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Up 0.5 %

Shares of Coca-Cola stock traded up $0.32 on Friday, reaching $69.57. 8,786,318 shares of the company were exchanged, compared to its average volume of 13,216,886. The company has a market capitalization of $299.70 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 3.92 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a one year low of $52.43 and a one year high of $73.53. The company has a 50-day moving average of $70.51 and a 200 day moving average of $65.43.

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

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s payout ratio is currently 77.60%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on KO shares. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Bank of America boosted their price objective on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Barclays raised their target price on shares of Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $71.33.

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,507,516.80. This trade represents 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 news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,507,516.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 376,096 shares of company stock valued at $25,982,352 over the last 90 days. 0.97% of the stock is currently owned by 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.