Hussman Strategic Advisors Inc. Trims Stock Position in The Coca-Cola Company (NYSE:KO)

Hussman Strategic Advisors Inc. lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 46.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,800 shares of the company’s stock after selling 14,700 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Coca-Cola were worth $1,069,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of KO. Tidemark LLC acquired a new stake in Coca-Cola in the fourth quarter valued at $26,000. New Millennium Group LLC acquired a new stake in shares of Coca-Cola in the second quarter worth approximately $26,000. Private Wealth Management Group LLC purchased a new stake in Coca-Cola during the fourth quarter valued at about $27,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola during the 1st quarter worth $28,000. Finally, ESL Trust Services LLC purchased a new stake in shares of Coca-Cola during the 1st quarter valued at about $28,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of KO stock traded up $0.42 during trading hours on Friday, reaching $72.47. The company’s stock had a trading volume of 18,624,227 shares, compared to its average volume of 13,806,061. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $72.57. The company has a market capitalization of $312.34 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 4.05 and a beta of 0.59. The firm’s 50 day simple moving average is $66.66 and its 200-day simple moving average is $63.13.

Coca-Cola (NYSE:KO) last released 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. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 earnings per share. Sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Activity at Coca-Cola

In related news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were 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 approximately $14,168,055.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 value of $5,042,744.94. Following the completion of the sale, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction that occurred on 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 directly owns 223,330 shares in the company, valued at approximately $14,168,055.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,074,910 shares of company stock worth $585,972,318 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on KO shares. TD Cowen boosted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Morgan Stanley raised their price target on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. boosted their target price on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Wells Fargo & Company upped their target price on Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Bank of America upped their price target 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 research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $70.73.

About Coca-Cola

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.