Sequoia Financial Advisors LLC Trims Holdings in The Coca-Cola Company (NYSE:KO)

Sequoia Financial Advisors LLC decreased its holdings in The Coca-Cola Company (NYSE:KOGet Rating) by 27.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,686 shares of the company’s stock after selling 11,518 shares during the period. Sequoia Financial Advisors LLC’s holdings in Coca-Cola were worth $1,903,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of KO. Nauset Wealth Management. LLC purchased a new position in shares of Coca-Cola during the first quarter valued at $27,000. Delos Wealth Advisors LLC increased its stake in shares of Coca-Cola by 4,770.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 487 shares of the company’s stock valued at $29,000 after buying an additional 477 shares during the period. Carl Stuart Investment Advisor Inc. purchased a new position in shares of Coca-Cola during the first quarter valued at $34,000. Hillsdale Investment Management Inc. purchased a new position in shares of Coca-Cola during the first quarter valued at $35,000. Finally, Rational Advisors LLC purchased a new position in shares of Coca-Cola during the first quarter valued at $37,000. Hedge funds and other institutional investors own 68.93% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO opened at $62.12 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.95 and a current ratio of 1.13. The company has a market cap of $268.65 billion, a PE ratio of 28.11, a P/E/G ratio of 3.87 and a beta of 0.54. The business has a 50-day simple moving average of $63.14 and a two-hundred day simple moving average of $62.78. The Coca-Cola Company has a fifty-two week low of $52.28 and a fifty-two week high of $67.20.

Coca-Cola (NYSE:KOGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $10.57 billion. Coca-Cola had a return on equity of 42.13% and a net margin of 23.16%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.68 earnings per share. As a group, equities analysts expect that The Coca-Cola Company will post 2.46 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Thursday, September 15th. Coca-Cola’s payout ratio is 79.64%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com upgraded Coca-Cola from a “hold” rating to a “buy” rating in a research note on Saturday, August 6th. Royal Bank of Canada set a $69.00 price target on Coca-Cola in a research note on Tuesday, July 26th. JPMorgan Chase & Co. set a $70.00 price objective on Coca-Cola in a research report on Tuesday, July 26th. Credit Suisse Group set a $68.00 price objective on Coca-Cola in a research report on Wednesday, July 20th. Finally, Morgan Stanley dropped their price objective on Coca-Cola from $76.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.59.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 32,000 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $64.09, for a total value of $2,050,880.00. Following the completion of the transaction, the chief executive officer now directly owns 351,737 shares in the company, valued at $22,542,824.33. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Carolyn Everson purchased 983 shares of Coca-Cola stock in a transaction that occurred on Wednesday, July 27th. The stock was bought at an average cost of $62.29 per share, for a total transaction of $61,231.07. Following the completion of the transaction, the director now owns 1,500 shares in the company, valued at $93,435. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 32,000 shares of Coca-Cola stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $64.09, for a total value of $2,050,880.00. Following the transaction, the chief executive officer now owns 351,737 shares of the company’s stock, valued at $22,542,824.33. The disclosure for this sale can be found here. Insiders sold a total of 45,830 shares of company stock worth $2,939,961 over the last three months. 0.98% of the stock is currently owned by insiders.

About Coca-Cola

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The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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