PSI Advisors LLC Sells 253 Shares of The Coca-Cola Company (NYSE:KO)

PSI Advisors LLC lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 15.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,355 shares of the company’s stock after selling 253 shares during the period. PSI Advisors LLC’s holdings in Coca-Cola were worth $97,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. New Millennium Group LLC bought a new position in shares of Coca-Cola in the 2nd quarter valued at $26,000. Quarry LP bought a new position in shares of Coca-Cola in the 2nd quarter valued at $27,000. Redmont Wealth Advisors LLC bought a new position in shares of Coca-Cola in the 1st quarter valued at $28,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola in the 1st quarter valued at $28,000. Finally, DiNuzzo Private Wealth Inc. increased its stake in shares of Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.2 %

Shares of NYSE:KO opened at $67.84 on Thursday. The company has a market capitalization of $292.25 billion, a price-to-earnings ratio of 27.21, a P/E/G ratio of 3.92 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The business’s 50-day moving average is $70.74 and its 200-day moving average is $65.96. The Coca-Cola Company has a 1 year low of $55.10 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 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $11.61 billion. During the same period in the previous year, the company posted $0.74 EPS. The firm’s revenue was down .8% compared to the same quarter last year. Equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 77.60%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KO. TD Cowen lifted their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Royal Bank of Canada raised their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average price target of $71.87.

Insider Activity at Coca-Cola

In related news, EVP Nancy Quan sold 37,787 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $66.96, for a total value of $2,530,217.52. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,954,176.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 37,787 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $66.96, for a total value of $2,530,217.52. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,954,176.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 356,792 shares of company stock valued at $24,728,364 in the last three months. 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.