1620 Investment Advisors Inc. Trims Stock Position in The Coca-Cola Company (NYSE:KO)

1620 Investment Advisors Inc. trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 43.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 884 shares of the company’s stock after selling 679 shares during the period. 1620 Investment Advisors Inc.’s holdings in Coca-Cola were worth $64,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Coca-Cola by 3.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 356,812 shares of the company’s stock valued at $21,830,000 after acquiring an additional 11,299 shares during the period. Accel Wealth Management acquired a new position in Coca-Cola during the 1st quarter valued at approximately $206,000. Marshall Financial Group LLC raised its holdings in shares of Coca-Cola by 6.9% in the first quarter. Marshall Financial Group LLC now owns 9,127 shares of the company’s stock worth $558,000 after buying an additional 591 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in shares of Coca-Cola by 10.5% during the first quarter. Ashton Thomas Private Wealth LLC now owns 75,597 shares of the company’s stock worth $4,625,000 after buying an additional 7,213 shares during the period. Finally, Lodestone Wealth Management LLC grew its holdings in shares of Coca-Cola by 3.3% during the first quarter. Lodestone Wealth Management LLC now owns 9,000 shares of the company’s stock valued at $551,000 after buying an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KO. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Morgan Stanley decreased their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Barclays cut their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. upped their price objective 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. 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 stock. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $71.80.

Coca-Cola Trading Up 0.5 %

Shares of KO stock opened at $65.92 on Thursday. The stock has a 50 day simple moving average of $70.47 and a 200-day simple moving average of $66.22. The Coca-Cola Company has a 1-year low of $56.06 and a 1-year high of $73.53. The company has a market cap of $283.97 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 3.91 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data 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. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the business posted $0.74 earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 2.94%. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

Insider Buying and Selling at Coca-Cola

In other news, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction that occurred 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 sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,074,330.17. 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. In other news, EVP Lisa Chang sold 58,122 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total value of $3,981,938.22. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The trade was 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 valued at $22,198,147 over the last quarter. 0.97% of the stock is currently owned by insiders.

About Coca-Cola

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.