Southern Capital Advisors LLC Sells 1,958 Shares of The Coca-Cola Company (NYSE:KO)

Southern Capital Advisors LLC cut its position in shares of The Coca-Cola Company (NYSE:KO) by 39.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,015 shares of the company’s stock after selling 1,958 shares during the quarter. Southern Capital Advisors LLC’s holdings in Coca-Cola were worth $217,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Aviance Capital Partners LLC lifted its position in shares of Coca-Cola by 249.1% during the first quarter. Aviance Capital Partners LLC now owns 23,634 shares of the company’s stock valued at $1,446,000 after purchasing an additional 16,864 shares in the last quarter. BKM Wealth Management LLC increased its stake in shares of Coca-Cola by 23.2% in the first quarter. BKM Wealth Management LLC now owns 8,206 shares of the company’s stock worth $502,000 after purchasing an additional 1,547 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Coca-Cola by 3.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 356,812 shares of the company’s stock valued at $21,830,000 after acquiring an additional 11,299 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its stake in Coca-Cola by 3.7% during the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 11,132 shares of the company’s stock valued at $681,000 after acquiring an additional 395 shares in the last quarter. Finally, Synergy Asset Management LLC grew its stake in Coca-Cola by 16.7% during the first quarter. Synergy Asset Management LLC now owns 353,611 shares of the company’s stock valued at $21,634,000 after acquiring an additional 50,489 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of NYSE KO opened at $67.20 on Monday. The business’s 50 day moving average price is $70.66 and its 200 day moving average price is $66.11. The firm has a market cap of $289.49 billion, a P/E ratio of 26.77, a P/E/G ratio of 3.91 and a beta of 0.60. The Coca-Cola Company has a 52 week low of $55.42 and a 52 week high of $73.53. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the firm posted $0.74 EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. On average, sell-side analysts expect that The Coca-Cola Company will post 2.85 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, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 2.89%. Coca-Cola’s payout ratio is currently 77.60%.

Insiders Place Their Bets

In related news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 319,005 shares of company stock valued at $22,198,147 in the last three months. 0.97% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on KO shares. JPMorgan Chase & Co. boosted their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Wells Fargo & Company upped their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Bank of America upped their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Barclays decreased their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.80.

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.