Kings Path Partners LLC Lowers Holdings in The Coca-Cola Company (NYSE:KO)

Kings Path Partners LLC reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 17.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,669 shares of the company’s stock after selling 2,480 shares during the quarter. Kings Path Partners LLC’s holdings in Coca-Cola were worth $727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quarry LP purchased a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC bought a new position in Coca-Cola during the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola in the 3rd quarter worth $36,000. Mount Lucas Management LP bought a new stake in shares of Coca-Cola in the 2nd quarter worth about $38,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola during the 3rd quarter valued at about $43,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.9 %

KO traded down $0.58 during trading on Monday, hitting $61.17. 8,152,482 shares of the stock were exchanged, compared to its average volume of 10,327,477. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The firm has a market cap of $263.51 billion, a price-to-earnings ratio of 25.28, a P/E/G ratio of 3.83 and a beta of 0.61. The firm has a 50 day simple moving average of $63.37 and a 200 day simple moving average of $66.58. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

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. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the company posted $0.74 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KO. Wells Fargo & Company dropped their price target on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, December 2nd. Morgan Stanley cut their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Barclays dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.97% of the company’s stock.

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.