TCI Wealth Advisors Inc. Reduces Position in The Coca-Cola Company (NYSE:KO)

TCI Wealth Advisors Inc. trimmed its position in The Coca-Cola Company (NYSE:KO) by 4.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,627 shares of the company’s stock after selling 217 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Coca-Cola were worth $332,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KO. New Millennium Group LLC bought a new stake in shares of Coca-Cola in the second quarter worth about $26,000. Quarry LP bought a new stake in shares of Coca-Cola in the 2nd quarter worth approximately $27,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola during the first quarter valued at approximately $28,000. Redmont Wealth Advisors LLC bought a new position in shares of Coca-Cola during the first quarter valued at approximately $28,000. Finally, DiNuzzo Private Wealth Inc. lifted its stake in Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after acquiring an additional 206 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Price Performance

NYSE KO traded down $0.19 during trading on Monday, hitting $66.73. 3,608,846 shares of the stock traded hands, compared to its average volume of 13,206,734. The company has a market capitalization of $287.47 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 3.91 and a beta of 0.60. The Coca-Cola Company has a 12-month low of $55.42 and a 12-month high of $73.53. The firm has a 50-day simple moving average of $70.66 and a 200-day simple moving average of $66.11. 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 released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 earnings per share. As a group, analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.91%. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling

In other Coca-Cola news, EVP Lisa Chang sold 58,122 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,074,330.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 transaction of $3,981,938.22. Following the sale, 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 have sold a total of 319,005 shares of company stock worth $22,198,147 in the last ninety days. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on KO. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Barclays reduced their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday. Truist Financial raised their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada raised their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

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.