CORDA Investment Management LLC. Cuts Stock Holdings in The Coca-Cola Company (NYSE:KO)

CORDA Investment Management LLC. decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 453,598 shares of the company’s stock after selling 10,406 shares during the period. Coca-Cola accounts for about 2.5% of CORDA Investment Management LLC.’s portfolio, making the stock its 17th largest position. CORDA Investment Management LLC.’s holdings in Coca-Cola were worth $32,596,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KO. Jennison Associates LLC grew its position in shares of Coca-Cola by 3.8% in the 1st quarter. Jennison Associates LLC now owns 47,562 shares of the company’s stock worth $2,910,000 after buying an additional 1,746 shares during the last quarter. Mutual Advisors LLC grew its position in shares of Coca-Cola by 7.0% in the 1st quarter. Mutual Advisors LLC now owns 70,161 shares of the company’s stock worth $4,292,000 after buying an additional 4,618 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Coca-Cola in the 1st quarter worth approximately $1,513,000. Comprehensive Financial Consultants Institutional Inc. boosted its stake in Coca-Cola by 3.0% in the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 15,696 shares of the company’s stock worth $960,000 after purchasing an additional 455 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in Coca-Cola by 6.1% in the 1st quarter. Proficio Capital Partners LLC now owns 9,328 shares of the company’s stock worth $571,000 after purchasing an additional 535 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 261,870 shares of company stock valued at $18,256,369 over the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Price Performance

Shares of NYSE KO opened at $65.09 on Monday. The firm has a market cap of $280.39 billion, a PE ratio of 26.86, a PEG ratio of 3.97 and a beta of 0.62. The firm has a fifty day moving average of $70.29 and a 200 day moving average of $66.37. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a one year low of $56.06 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the firm earned $0.74 EPS. The firm’s revenue was down .8% compared to the same quarter last year. As a group, research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Wall Street Analyst Weigh In

A number of research firms recently commented on KO. TD Cowen lifted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Finally, Bank of America lifted their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

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.