Angeles Investment Advisors LLC Reduces Stake in The Coca-Cola Company (NYSE:KO)

Angeles Investment Advisors LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 17.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,900 shares of the company’s stock after selling 1,437 shares during the period. Angeles Investment Advisors LLC’s holdings in The Coca-Cola were worth $364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in KO. Successful Portfolios LLC raised its holdings in The Coca-Cola by 1.0% in the 1st quarter. Successful Portfolios LLC now owns 18,380 shares of the company’s stock valued at $969,000 after acquiring an additional 185 shares during the last quarter. Murphy Middleton Hinkle & Parker Inc. increased its holdings in shares of The Coca-Cola by 0.4% during the 1st quarter. Murphy Middleton Hinkle & Parker Inc. now owns 48,722 shares of the company’s stock worth $2,568,000 after buying an additional 189 shares during the last quarter. Harbor Financial Services LLC boosted its position in shares of The Coca-Cola by 2.9% during the 1st quarter. Harbor Financial Services LLC now owns 6,721 shares of the company’s stock worth $354,000 after purchasing an additional 189 shares during the period. Independence Bank of Kentucky boosted its position in shares of The Coca-Cola by 0.6% during the 1st quarter. Independence Bank of Kentucky now owns 35,601 shares of the company’s stock worth $1,877,000 after purchasing an additional 195 shares during the period. Finally, Bragg Financial Advisors Inc boosted its position in shares of The Coca-Cola by 0.5% during the 1st quarter. Bragg Financial Advisors Inc now owns 42,247 shares of the company’s stock worth $2,227,000 after purchasing an additional 195 shares during the period. Hedge funds and other institutional investors own 66.21% of the company’s stock.

Shares of NYSE KO traded down $0.25 during midday trading on Thursday, hitting $56.30. The company’s stock had a trading volume of 157,983 shares, compared to its average volume of 13,722,054. The Coca-Cola Company has a 1-year low of $46.22 and a 1-year high of $57.56. The business has a fifty day simple moving average of $54.97. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.13 and a current ratio of 1.33. The firm has a market cap of $242.75 billion, a price-to-earnings ratio of 33.84, a P/E/G ratio of 3.35 and a beta of 0.61.

The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 20th. The company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.12. The Coca-Cola had a net margin of 21.59% and a return on equity of 41.48%. The firm had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $9.30 billion. During the same period last year, the firm posted $0.42 EPS. The Coca-Cola’s quarterly revenue was up 40.3% compared to the same quarter last year. On average, equities research analysts forecast that The Coca-Cola Company will post 2.19 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Wednesday, September 15th will be issued a $0.42 dividend. The ex-dividend date is Tuesday, September 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.98%. The Coca-Cola’s payout ratio is currently 86.15%.

Several equities analysts have commented on KO shares. Argus raised their price target on shares of The Coca-Cola from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, June 17th. Credit Suisse Group raised their price objective on shares of The Coca-Cola from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday. Royal Bank of Canada restated a “buy” rating and issued a $60.00 price objective on shares of The Coca-Cola in a report on Wednesday, June 23rd. Evercore ISI raised their price objective on shares of The Coca-Cola from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Tuesday, April 20th. Finally, Jefferies Financial Group lifted their price target on shares of The Coca-Cola from $57.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday, July 16th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $60.33.

In other news, insider Nikolaos Koumettis sold 55,392 shares of The Coca-Cola stock in a transaction that occurred on Friday, June 4th. The shares were sold at an average price of $55.89, for a total value of $3,095,858.88. Following the transaction, the insider now directly owns 170,403 shares of the company’s stock, valued at $9,523,823.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Nancy Quan sold 19,911 shares of The Coca-Cola stock in a transaction that occurred on Friday, July 16th. The stock was sold at an average price of $56.50, for a total transaction of $1,124,971.50. Following the completion of the transaction, the senior vice president now directly owns 196,745 shares in the company, valued at $11,116,092.50. The disclosure for this sale can be found here. Insiders sold a total of 185,303 shares of company stock worth $10,213,630 over the last quarter. Insiders own 1.01% of the company’s stock.

About The Coca-Cola

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

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Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KO).

Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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