First Personal Financial Services Sells 356 Shares of The Coca-Cola Company (NYSE:KO)

First Personal Financial Services decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 24,114 shares of the company’s stock after selling 356 shares during the period. First Personal Financial Services’ holdings in Coca-Cola were worth $1,535,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in KO. Patrick M Sweeney & Associates Inc. acquired a new position in Coca-Cola in the fourth quarter valued at about $410,000. Beacon Pointe Advisors LLC raised its position in shares of Coca-Cola by 24.7% in the 4th quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock valued at $26,549,000 after acquiring an additional 89,139 shares during the period. Smart Money Group LLC boosted its stake in Coca-Cola by 21.6% during the 4th quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock worth $291,000 after acquiring an additional 877 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in Coca-Cola by 13.4% during the fourth quarter. Hexagon Capital Partners LLC now owns 12,621 shares of the company’s stock valued at $744,000 after purchasing an additional 1,495 shares during the period. Finally, Peddock Capital Advisors LLC grew its holdings in Coca-Cola by 1.4% during the fourth quarter. Peddock Capital Advisors LLC now owns 31,837 shares of the company’s stock valued at $1,876,000 after purchasing an additional 443 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.6 %

Shares of KO traded up $0.42 during mid-day trading on Friday, hitting $72.47. 18,398,818 shares of the company’s stock were exchanged, compared to its average volume of 13,073,931. 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 52 week low of $51.55 and a 52 week high of $72.57. The company has a market cap of $312.20 billion, a PE ratio of 28.99, a P/E/G ratio of 3.80 and a beta of 0.59. The company has a 50-day simple moving average of $66.46 and a 200 day simple moving average of $63.01.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating 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 business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share 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. Investors of record on Friday, September 13th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.68%. Coca-Cola’s payout ratio is presently 77.60%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Morgan Stanley raised their price objective on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Finally, Bank of America boosted their price objective on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and twelve have assigned 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 $70.73.

Insider Activity at Coca-Cola

In other news, EVP Nancy Quan sold 19,304 shares of the 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 of the company’s stock, valued at approximately $14,168,055.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,168,055.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,074,910 shares of company stock valued at $585,972,318. Insiders own 0.97% of the company’s stock.

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.