Jmac Enterprises LLC Sells 5,177 Shares of The Coca-Cola Company (NYSE:KO)

Jmac Enterprises LLC cut its position in The Coca-Cola Company (NYSE:KO) by 12.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 37,621 shares of the company’s stock after selling 5,177 shares during the period. Jmac Enterprises LLC’s holdings in Coca-Cola were worth $2,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KO. New Millennium Group LLC bought a new position in Coca-Cola in the 2nd quarter worth about $26,000. Quarry LP bought a new stake in Coca-Cola in the second quarter worth $27,000. ESL Trust Services LLC bought a new position in Coca-Cola during the 1st quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola in the third quarter worth $36,000. Finally, Mount Lucas Management LP bought a new position in shares of Coca-Cola during the second quarter valued at about $38,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Up 0.7 %

Shares of Coca-Cola stock opened at $64.13 on Thursday. The firm has a market cap of $276.26 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 3.96 and a beta of 0.61. The business has a 50-day moving average price of $69.90 and a 200-day moving average price of $66.43. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a twelve month low of $56.06 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the firm earned $0.74 EPS. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. Equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

Wall Street Analysts Forecast Growth

KO has been the topic of several recent analyst reports. Bank of America lifted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Barclays cut their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Wells Fargo & Company raised their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada raised their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.80.

Insider Buying and Selling

In related news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 203,748 shares of company stock valued at $14,274,431. Insiders own 0.97% of the company’s stock.

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.