Hillsdale Investment Management Inc. Sells 660 Shares of The Coca-Cola Company (NYSE:KO)

Hillsdale Investment Management Inc. reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 7.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,944 shares of the company’s stock after selling 660 shares during the period. Hillsdale Investment Management Inc.’s holdings in Coca-Cola were worth $486,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in KO. ZRC Wealth Management LLC lifted its stake in Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after buying an additional 320 shares during the period. Tidemark LLC bought a new position in Coca-Cola in the 4th quarter valued at $26,000. Private Wealth Management Group LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at $27,000. Redmont Wealth Advisors LLC purchased a new position in shares of Coca-Cola during the 1st quarter valued at $28,000. Finally, ESL Trust Services LLC purchased a new position in shares of Coca-Cola during the 1st quarter valued at $28,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Up 0.9 %

Shares of NYSE KO traded up $0.60 during midday trading on Tuesday, hitting $65.37. The company’s stock had a trading volume of 5,247,169 shares, compared to its average volume of 12,814,682. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The business’s 50 day moving average is $63.25 and its two-hundred day moving average is $61.34. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $66.04. The firm has a market cap of $281.61 billion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 3.70 and a beta of 0.59.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a dividend of $0.485 per share. The ex-dividend date was Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 2.97%. Coca-Cola’s payout ratio is currently 77.60%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KO. JPMorgan Chase & Co. raised their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. UBS Group raised their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Argus raised their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Morgan Stanley lifted their price objective on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.00.

Insiders Place Their Bets

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $3,551,903.02. Following the completion of the transaction, the executive vice president now owns 167,107 shares in the company, valued at $10,358,962.93. The disclosure for this sale can be found here. Insiders have sold 841,588 shares of company stock worth $568,972,027 in the last ninety days. 0.97% of the stock is owned by company insiders.

Coca-Cola 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.