St. Johns Investment Management Company LLC Has $2.52 Million Stock Position in The Coca-Cola Company (NYSE:KO)

St. Johns Investment Management Company LLC lessened its holdings in The Coca-Cola Company (NYSE:KO) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,562 shares of the company’s stock after selling 407 shares during the quarter. Coca-Cola accounts for approximately 1.2% of St. Johns Investment Management Company LLC’s investment portfolio, making the stock its 20th biggest position. St. Johns Investment Management Company LLC’s holdings in Coca-Cola were worth $2,518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. New Millennium Group LLC acquired a new position in shares of Coca-Cola during the second quarter worth $26,000. Tidemark LLC acquired a new position in Coca-Cola in the 4th quarter worth about $26,000. ESL Trust Services LLC bought a new position in Coca-Cola in the first quarter valued at about $28,000. Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola during the first quarter worth about $28,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at approximately $27,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 1.5 %

Shares of NYSE KO traded up $1.07 during mid-day trading on Monday, reaching $70.86. 12,910,136 shares of the company’s stock traded hands, compared to its average volume of 12,989,852. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $70.92. The stock has a market cap of $305.26 billion, a P/E ratio of 28.34, a PEG ratio of 3.80 and a beta of 0.59. The business has a 50-day simple moving average of $65.91 and a 200 day simple moving average of $62.80.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. 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 previous year, the firm earned $0.78 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.74%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Buying and Selling at Coca-Cola

In related news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,168,055.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,168,055.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction that occurred 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 $13,644,979.20. The disclosure for this sale can be found here. Insiders sold a total of 1,014,029 shares of company stock valued at $581,682,074 in the last three months. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

KO has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. BNP Paribas initiated coverage on Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. Evercore ISI lifted their target price on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Royal Bank of Canada increased their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Citigroup raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $70.20.

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.