Hudson Edge Investment Partners Inc. Has $4.87 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Hudson Edge Investment Partners Inc. cut its stake in The Coca-Cola Company (NYSE:KO) by 13.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,579 shares of the company’s stock after selling 11,893 shares during the period. Hudson Edge Investment Partners Inc.’s holdings in Coca-Cola were worth $4,874,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. New Millennium Group LLC bought a new position in shares of Coca-Cola in the 2nd quarter valued at about $26,000. Tidemark LLC bought a new position in Coca-Cola in the fourth quarter valued at approximately $26,000. ESL Trust Services LLC acquired a new stake in Coca-Cola during the 1st quarter worth $28,000. Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola during the 1st quarter valued at $28,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of Coca-Cola in the 4th quarter valued at $27,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Performance

Coca-Cola stock traded down $0.03 during midday trading on Friday, reaching $71.14. 17,485,707 shares of the company’s stock were exchanged, compared to its average volume of 13,186,163. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The stock’s 50-day simple moving average is $67.48 and its 200 day simple moving average is $63.56. The firm has a market cap of $306.47 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 4.05 and a beta of 0.60. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 earnings per share. On average, analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,074,910 shares of company stock valued at $585,972,318. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America increased their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. TD Cowen lifted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Wells Fargo & Company upped their price objective on shares of Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. BNP Paribas initiated coverage on Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target for the company. Finally, Citigroup lifted their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.73.

About Coca-Cola

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.