Accent Capital Management LLC Sells 9,901 Shares of The Coca-Cola Company (NYSE:KO)

Accent Capital Management LLC trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 63.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,595 shares of the company’s stock after selling 9,901 shares during the quarter. Accent Capital Management LLC’s holdings in Coca-Cola were worth $405,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. New Millennium Group LLC bought a new stake in shares of Coca-Cola during the 2nd quarter worth about $26,000. Quarry LP acquired a new position in shares of Coca-Cola in the second quarter valued at approximately $27,000. Hara Capital LLC acquired a new position in shares of Coca-Cola in the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola during the third quarter worth approximately $36,000. Finally, Mount Lucas Management LP acquired a new stake in Coca-Cola during the 2nd quarter worth approximately $38,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Trading Down 1.3 %

KO opened at $61.74 on Friday. The company has a market cap of $265.96 billion, a P/E ratio of 25.51, a PEG ratio of 3.75 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company’s 50 day moving average is $68.63 and its 200-day moving average is $66.51. The Coca-Cola Company has a 1-year low of $56.70 and a 1-year high of $73.53.

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

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.14%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KO. Barclays lowered their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada raised their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Citigroup boosted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Morgan Stanley cut their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 303,748 shares of company stock worth $20,677,431. 0.97% of the stock is currently owned by insiders.

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.