Investment Research & Advisory Group Inc. Lowers Position in The Coca-Cola Company (NYSE:KO)

Investment Research & Advisory Group Inc. trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 13.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,848 shares of the company’s stock after selling 450 shares during the quarter. Investment Research & Advisory Group Inc.’s holdings in Coca-Cola were worth $205,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on KO shares. Barclays upped their target price on shares of Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. TD Cowen raised their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. JPMorgan Chase & Co. upped their target price on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Five equities 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.87.

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 18,482 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,398,603.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,398,603.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lisa Chang sold 58,122 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the completion of the transaction, the executive vice president now directly owns 74,067 shares in the company, valued at $5,074,330.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 319,005 shares of company stock worth $22,198,147 in the last 90 days. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

Shares of KO opened at $67.30 on Friday. The Coca-Cola Company has a 1 year low of $55.10 and a 1 year high of $73.53. The company’s 50 day simple moving average is $70.74 and its 200 day simple moving average is $65.96. The company has a market capitalization of $289.93 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 3.92 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 EPS. On average, sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 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.