Jacobs & Co. CA Reduces Position in The Coca-Cola Company (NYSE:KO)

Jacobs & Co. CA lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 5.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 135,325 shares of the company’s stock after selling 7,523 shares during the period. Jacobs & Co. CA’s holdings in Coca-Cola were worth $8,149,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Summitry LLC increased its holdings in Coca-Cola by 1.7% in the 1st quarter. Summitry LLC now owns 9,668 shares of the company’s stock valued at $600,000 after buying an additional 159 shares during the period. Ten Capital Wealth Advisors LLC lifted its stake in Coca-Cola by 4.7% during the first quarter. Ten Capital Wealth Advisors LLC now owns 3,584 shares of the company’s stock worth $222,000 after purchasing an additional 162 shares during the last quarter. Naples Global Advisors LLC boosted its holdings in shares of Coca-Cola by 0.7% in the 1st quarter. Naples Global Advisors LLC now owns 23,188 shares of the company’s stock valued at $1,448,000 after purchasing an additional 165 shares in the last quarter. McKinley Carter Wealth Services Inc. raised its holdings in shares of Coca-Cola by 1.3% during the 1st quarter. McKinley Carter Wealth Services Inc. now owns 12,780 shares of the company’s stock worth $793,000 after buying an additional 165 shares in the last quarter. Finally, Castleview Partners LLC lifted its position in shares of Coca-Cola by 4.4% during the 1st quarter. Castleview Partners LLC now owns 3,973 shares of the company’s stock worth $246,000 after buying an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 68.96% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In related news, SVP Beatriz R. Perez sold 50,000 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the transaction, the senior vice president now directly owns 143,383 shares of the company’s stock, valued at $8,984,378.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO John Murphy sold 156,290 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $62.10, for a total transaction of $9,705,609.00. Following the completion of the sale, the chief financial officer now directly owns 228,830 shares of the company’s stock, valued at $14,210,343. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Beatriz R. Perez sold 50,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the completion of the transaction, the senior vice president now directly owns 143,383 shares in the company, valued at approximately $8,984,378.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 227,364 shares of company stock valued at $14,122,016. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

KO has been the subject of a number of research reports. Royal Bank of Canada increased their target price on shares of Coca-Cola from $69.00 to $70.00 in a report on Thursday, July 27th. StockNews.com initiated coverage on shares of Coca-Cola in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Wedbush boosted their target price on shares of Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. JPMorgan Chase & Co. increased their price target on Coca-Cola from $67.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Finally, Barclays boosted their price objective on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.33.

Coca-Cola Stock Down 0.0 %

Coca-Cola stock opened at $57.93 on Monday. The firm has a market cap of $250.51 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 3.43 and a beta of 0.55. The Coca-Cola Company has a 52-week low of $54.01 and a 52-week high of $64.99. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.14. The firm has a 50 day moving average price of $60.49 and a two-hundred day moving average price of $61.25.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. The business had revenue of $12 billion during the quarter, compared to the consensus estimate of $11.74 billion. During the same quarter last year, the firm earned $0.70 earnings per share. Coca-Cola’s quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts predict that The Coca-Cola Company will post 2.63 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a $0.46 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.84 dividend on an annualized basis and a yield of 3.18%. Coca-Cola’s payout ratio is currently 75.72%.

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.