Cherry Creek Investment Advisors Inc. Reduces Stock Position in The Coca-Cola Company (NYSE:KO)

Cherry Creek Investment Advisors Inc. trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,927 shares of the company’s stock after selling 253 shares during the period. Coca-Cola makes up 1.7% of Cherry Creek Investment Advisors Inc.’s investment portfolio, making the stock its 17th largest holding. Cherry Creek Investment Advisors Inc.’s holdings in Coca-Cola were worth $3,300,000 as of its most recent filing with the Securities & Exchange Commission.

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

Coca-Cola Trading Down 2.1 %

KO opened at $68.02 on Thursday. The Coca-Cola Company has a 12 month low of $55.10 and a 12 month high of $73.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a 50-day moving average of $70.74 and a 200 day moving average of $65.96. The firm has a market cap of $293.03 billion, a P/E ratio of 27.21, a P/E/G ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same period last year, the company earned $0.78 earnings per share. Coca-Cola’s revenue was up 3.3% on a year-over-year basis. As a group, research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.85%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of recent research reports. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Wells Fargo & Company increased their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Citigroup lifted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were 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 owns 223,330 shares of the company’s stock, valued at $14,954,176.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of the stock in a transaction 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 owns 223,330 shares in the company, valued at $14,954,176.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,074,330.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 356,792 shares of company stock worth $24,728,364. Insiders own 0.97% of the company’s stock.

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.