Spinnaker Investment Group LLC Sells 168 Shares of The Coca-Cola Company (NYSE:KO)

Spinnaker Investment Group LLC lowered its holdings in The Coca-Cola Company (NYSE:KO) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,017 shares of the company’s stock after selling 168 shares during the period. Spinnaker Investment Group LLC’s holdings in Coca-Cola were worth $638,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of KO. Joule Financial LLC lifted its holdings in shares of Coca-Cola by 3.6% in the second quarter. Joule Financial LLC now owns 4,867 shares of the company’s stock worth $312,000 after buying an additional 167 shares in the last quarter. Community Bank & Trust Waco Texas raised its stake in Coca-Cola by 0.6% during the first quarter. Community Bank & Trust Waco Texas now owns 30,262 shares of the company’s stock valued at $1,851,000 after purchasing an additional 168 shares in the last quarter. Goelzer Investment Management Inc. raised its stake in Coca-Cola by 1.8% during the fourth quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock valued at $571,000 after purchasing an additional 169 shares in the last quarter. Premier Path Wealth Partners LLC raised its stake in Coca-Cola by 1.4% during the first quarter. Premier Path Wealth Partners LLC now owns 12,009 shares of the company’s stock valued at $729,000 after purchasing an additional 170 shares in the last quarter. Finally, Richardson Financial Services Inc. raised its stake in Coca-Cola by 4.8% during the first quarter. Richardson Financial Services Inc. now owns 3,697 shares of the company’s stock valued at $226,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction dated 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 directly 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 this hyperlink. In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction dated 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 directly 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 this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,168,055.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,014,029 shares of company stock worth $581,682,074 in the last three months. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on KO. UBS Group upped their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Evercore ISI upped their price target 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. TD Cowen upped their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Bank of America upped their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.20.

Coca-Cola Trading Up 0.6 %

Shares of NYSE KO traded up $0.44 during mid-day trading on Friday, reaching $69.77. The company had a trading volume of 11,827,571 shares, compared to its average volume of 12,990,292. The business’s 50-day moving average is $65.74 and its 200-day moving average is $62.69. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a market cap of $300.57 billion, a price-to-earnings ratio of 27.91, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $70.13.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. Equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is presently 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.