Stegent Equity Advisors Inc. Sells 7,604 Shares of The Coca-Cola Company (NYSE:KO)

Stegent Equity Advisors Inc. lessened its stake in The Coca-Cola Company (NYSE:KO) by 70.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,213 shares of the company’s stock after selling 7,604 shares during the quarter. Stegent Equity Advisors Inc.’s holdings in Coca-Cola were worth $205,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Patrick M Sweeney & Associates Inc. acquired a new position in Coca-Cola during the 4th quarter worth approximately $410,000. Beacon Pointe Advisors LLC lifted its position in Coca-Cola by 24.7% during the 4th quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after buying an additional 89,139 shares in the last quarter. Peddock Capital Advisors LLC boosted its stake in shares of Coca-Cola by 1.4% during the 4th quarter. Peddock Capital Advisors LLC now owns 31,837 shares of the company’s stock worth $1,876,000 after buying an additional 443 shares during the last quarter. Focus Financial Network Inc. ADV bought a new position in shares of Coca-Cola in the 4th quarter valued at about $3,255,000. Finally, Kingsview Wealth Management LLC increased its position in shares of Coca-Cola by 17.8% in the fourth quarter. Kingsview Wealth Management LLC now owns 139,368 shares of the company’s stock valued at $8,213,000 after acquiring an additional 21,030 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction dated 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 sale, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nikolaos Koumettis sold 80,891 shares of the business’s 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 completion of the transaction, the insider now owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,074,910 shares of company stock valued at $585,972,318. 0.97% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on KO shares. Barclays increased their price target on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Citigroup boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. TD Cowen increased 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 lifted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Morgan Stanley upped their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.73.

Coca-Cola Stock Performance

NYSE:KO traded up $0.42 during mid-day trading on Friday, hitting $72.47. 18,624,227 shares of the stock were exchanged, compared to its average volume of 13,806,061. The firm’s 50-day simple moving average is $66.66 and its 200 day simple moving average is $63.13. The stock has a market capitalization of $312.34 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 4.05 and a beta of 0.59. 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 debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company 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 company’s revenue was up 3.3% on a year-over-year basis. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

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

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.