The Coca-Cola Company (NYSE:KO) Shares Sold by Armstrong Henry H Associates Inc.

Armstrong Henry H Associates Inc. trimmed its holdings in The Coca-Cola Company (NYSE:KO) by 3.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 155,682 shares of the company’s stock after selling 5,586 shares during the period. Coca-Cola makes up about 0.9% of Armstrong Henry H Associates Inc.’s holdings, making the stock its 12th largest holding. Armstrong Henry H Associates Inc.’s holdings in Coca-Cola were worth $9,525,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in KO. Ontario Teachers Pension Plan Board purchased a new position in Coca-Cola in the 3rd quarter valued at approximately $1,255,000. Gallacher Capital Management LLC purchased a new stake in shares of Coca-Cola during the third quarter worth approximately $228,000. Syntax Advisors LLC raised its holdings in Coca-Cola by 4.4% in the third quarter. Syntax Advisors LLC now owns 4,220 shares of the company’s stock valued at $236,000 after acquiring an additional 179 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in Coca-Cola by 7.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 106,866 shares of the company’s stock worth $5,982,000 after acquiring an additional 7,003 shares during the last quarter. Finally, Personal CFO Solutions LLC grew its holdings in Coca-Cola by 5.2% during the 3rd quarter. Personal CFO Solutions LLC now owns 18,921 shares of the company’s stock worth $1,059,000 after acquiring an additional 934 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on KO. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, June 14th. JPMorgan Chase & Co. increased their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. UBS Group increased their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Barclays increased their target price on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Evercore ISI upped their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.55.

Insiders Place Their Bets

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the transaction, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. In the last three months, insiders sold 223,665 shares of company stock valued at $13,995,465. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock traded up $0.59 during mid-day trading on Friday, reaching $62.77. The company had a trading volume of 28,282,194 shares, compared to its average volume of 9,836,777. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.36. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The company has a market capitalization of $270.41 billion, a P/E ratio of 25.11, a P/E/G ratio of 3.51 and a beta of 0.59. The stock’s 50-day simple moving average is $62.21 and its 200-day simple moving average is $60.60.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same period last year, the company posted $0.68 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts predict that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.09%. Coca-Cola’s payout ratio is currently 77.60%.

Coca-Cola Company 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.