Everence Capital Management Inc. Has $5.33 Million Holdings in The Coca-Cola Company (NYSE:KO)

Everence Capital Management Inc. decreased its stake in shares of The Coca-Cola Company (NYSE:KO) by 9.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 85,620 shares of the company’s stock after selling 8,940 shares during the period. Everence Capital Management Inc.’s holdings in Coca-Cola were worth $5,331,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in KO. Quarry LP acquired a new position in Coca-Cola during the second quarter valued at approximately $27,000. Hara Capital LLC bought a new stake in shares of Coca-Cola during the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola in the 3rd quarter valued at $36,000. Mount Lucas Management LP bought a new position in Coca-Cola in the 2nd quarter worth $38,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola during the 3rd quarter worth $43,000. 70.26% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on KO shares. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Barclays lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Morgan Stanley lowered their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company cut their target price on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.50.

Coca-Cola Price Performance

NYSE KO traded up $0.17 on Friday, reaching $62.01. The company’s stock had a trading volume of 2,487,691 shares, compared to its average volume of 7,565,229. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a market cap of $267.13 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The business has a 50-day moving average price of $63.47 and a 200 day moving average price of $66.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 EPS. Sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.485 per share. The ex-dividend date was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.13%. Coca-Cola’s payout ratio is presently 80.17%.

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.