The Coca-Cola Company (NYSE:KO) Position Lessened by Corundum Group Inc.

Corundum Group Inc. reduced its position in The Coca-Cola Company (NYSE:KO) by 2.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,282 shares of the company’s stock after selling 212 shares during the period. Corundum Group Inc.’s holdings in Coca-Cola were worth $629,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Operose Advisors LLC increased its position in Coca-Cola by 167.0% during the third quarter. Operose Advisors LLC now owns 3,738 shares of the company’s stock worth $209,000 after buying an additional 2,338 shares during the last quarter. Mutual Advisors LLC grew its holdings in Coca-Cola by 3.1% in the 3rd quarter. Mutual Advisors LLC now owns 67,281 shares of the company’s stock valued at $3,766,000 after buying an additional 2,031 shares during the last quarter. MFA Wealth Advisors LLC grew its holdings in Coca-Cola by 4.5% in the 3rd quarter. MFA Wealth Advisors LLC now owns 28,960 shares of the company’s stock valued at $1,621,000 after buying an additional 1,248 shares during the last quarter. Westfield Capital Management Co. LP increased its position in Coca-Cola by 6.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 147,185 shares of the company’s stock worth $8,239,000 after buying an additional 9,129 shares during the period. Finally, Valley National Advisers Inc. boosted its position in shares of Coca-Cola by 19.0% in the third quarter. Valley National Advisers Inc. now owns 4,358 shares of the company’s stock valued at $244,000 after acquiring an additional 695 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Trading Down 0.1 %

Shares of NYSE:KO traded down $0.07 during mid-day trading on Thursday, reaching $63.98. The stock had a trading volume of 979,492 shares, compared to its average volume of 13,027,729. The firm has a 50 day simple moving average of $62.44 and a two-hundred day simple moving average of $60.69. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.36. The firm has a market cap of $275.62 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 3.61 and a beta of 0.59. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. Coca-Cola’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 EPS. On average, research analysts predict that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.03%. Coca-Cola’s dividend payout ratio is 77.60%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the transaction, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the transaction, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Monica Howard Douglas sold 8,874 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the transaction, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at approximately $2,129,621.78. The disclosure for this sale can be found here. In the last three months, insiders sold 223,665 shares of company stock worth $13,995,465. 0.97% of the stock is owned by company insiders.

Analyst Ratings Changes

KO has been the subject of several research analyst reports. Argus upped their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. lifted their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Evercore ISI lifted their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Finally, UBS Group raised their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.83.

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.