Nicholas Hoffman & Company LLC. Lowers Holdings in The Coca-Cola Company (NYSE:KO)

Nicholas Hoffman & Company LLC. reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,569 shares of the company’s stock after selling 2,921 shares during the period. Coca-Cola accounts for about 0.6% of Nicholas Hoffman & Company LLC.’s investment portfolio, making the stock its 16th largest position. Nicholas Hoffman & Company LLC.’s holdings in Coca-Cola were worth $14,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. State of Alaska Department of Revenue grew its stake in shares of Coca-Cola by 4.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock valued at $32,895,000 after buying an additional 21,005 shares during the period. Swedbank AB acquired a new position in Coca-Cola in the first quarter valued at $102,604,000. BDF Gestion purchased a new stake in Coca-Cola during the second quarter valued at about $7,421,000. Nisa Investment Advisors LLC increased its stake in Coca-Cola by 10.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,149,209 shares of the company’s stock worth $83,151,000 after acquiring an additional 107,374 shares during the last quarter. Finally, Duality Advisers LP raised its holdings in shares of Coca-Cola by 191.1% in the 1st quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock worth $6,843,000 after purchasing an additional 73,434 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of KO stock opened at $65.59 on Wednesday. The firm has a market cap of $282.54 billion, a P/E ratio of 26.23, a P/E/G ratio of 3.91 and a beta of 0.60. The firm has a fifty day moving average of $70.54 and a two-hundred day moving average of $66.22. 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 Coca-Cola Company has a 1-year low of $55.42 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm 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 earned $0.74 earnings per share. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. As a group, research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 77.60%.

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 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 transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 319,005 shares of company stock worth $22,198,147 over the last 90 days. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. 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 research report on Monday, September 16th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. 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 research report on Wednesday, July 10th. Finally, Morgan Stanley decreased their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Five investment 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.80.

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.