Summit Trail Advisors LLC Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

Summit Trail Advisors LLC lowered its position in The Coca-Cola Company (NYSE:KO) by 13.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,868 shares of the company’s stock after selling 3,143 shares during the quarter. Summit Trail Advisors LLC’s holdings in Coca-Cola were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Insigneo Advisory Services LLC grew its holdings in shares of Coca-Cola by 12.2% in the third quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock worth $2,354,000 after purchasing an additional 4,527 shares during the last quarter. Birchcreek Wealth Management LLC increased its position in Coca-Cola by 12.6% during the 4th quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock valued at $267,000 after purchasing an additional 507 shares during the period. HF Advisory Group LLC lifted its position in shares of Coca-Cola by 7.6% in the 3rd quarter. HF Advisory Group LLC now owns 6,770 shares of the company’s stock worth $379,000 after purchasing an additional 476 shares during the period. Wahed Invest LLC boosted its stake in shares of Coca-Cola by 10.3% during the 3rd quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock valued at $3,435,000 after purchasing an additional 5,707 shares in the last quarter. Finally, Smart Money Group LLC lifted its holdings in Coca-Cola by 21.6% in the fourth quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock worth $291,000 after buying an additional 877 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 247,188 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $26,968,753.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $13,594,097.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 323,107 shares of company stock worth $19,657,742. 0.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. UBS Group upped their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Evercore ISI upped their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Citigroup raised their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Barclays increased their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.27.

Coca-Cola Stock Up 0.3 %

Shares of Coca-Cola stock traded up $0.19 on Monday, reaching $62.36. The company’s stock had a trading volume of 9,309,869 shares, compared to its average volume of 13,967,127. The company has a market capitalization of $268.64 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 3.53 and a beta of 0.57. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.25. The firm’s fifty day simple moving average is $60.24 and its two-hundred day simple moving average is $59.19.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. Coca-Cola’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the company earned $0.68 EPS. Equities analysts anticipate that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Friday, June 14th. Coca-Cola’s payout ratio is currently 77.60%.

Coca-Cola Company 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.