Thurston Springer Miller Herd & Titak Inc. Reduces Stock Holdings in The Coca-Cola Company (NYSE:KO)

Thurston Springer Miller Herd & Titak Inc. lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 33.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,706 shares of the company’s stock after selling 7,300 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Coca-Cola were worth $1,057,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of Coca-Cola in the first quarter worth $102,604,000. BDF Gestion bought a new stake in shares of Coca-Cola during the second quarter valued at about $7,421,000. Duality Advisers LP lifted its holdings in shares of Coca-Cola by 191.1% in the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock worth $6,843,000 after buying an additional 73,434 shares in the last quarter. TD Asset Management Inc boosted its holdings in Coca-Cola by 0.7% in the 1st quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock valued at $179,578,000 after purchasing an additional 20,048 shares during the period. Finally, New Mexico Educational Retirement Board grew its position in shares of Coca-Cola by 11.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock valued at $14,013,000 after purchasing an additional 23,500 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction 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 completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Quincey sold 102,533 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 376,096 shares of company stock valued at $25,982,352 over the last ninety days. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.5 %

KO stock opened at $69.57 on Monday. The business has a 50 day moving average of $70.51 and a 200 day moving average of $65.46. The firm has a market cap of $299.70 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a twelve month low of $52.43 and a twelve month high of $73.53. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.

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

Coca-Cola Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Bank of America upped their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. TD Cowen increased their price target 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. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Wells Fargo & Company boosted their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $71.33.

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.