Arthur M. Cohen & Associates LLC Sells 420 Shares of The Coca-Cola Company (NYSE:KO)

Arthur M. Cohen & Associates LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 10.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,725 shares of the company’s stock after selling 420 shares during the quarter. Arthur M. Cohen & Associates LLC’s holdings in Coca-Cola were worth $267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue lifted its stake in shares of Coca-Cola by 4.8% in the third 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 in the last quarter. Swedbank AB bought a new position in shares of Coca-Cola in the first quarter valued at $102,604,000. BDF Gestion bought a new position in shares of Coca-Cola in the second quarter valued at $7,421,000. Nisa Investment Advisors LLC lifted its stake in shares of Coca-Cola by 10.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,149,209 shares of the company’s stock valued at $83,151,000 after buying an additional 107,374 shares in the last quarter. Finally, Duality Advisers LP raised its holdings in shares of Coca-Cola by 191.1% in the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock valued at $6,843,000 after purchasing an additional 73,434 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Citigroup increased their target price 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. Barclays lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. TD Cowen raised their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.80.

Insider Buying and Selling

In related news, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,150,619.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 203,748 shares of company stock valued at $14,274,431 over the last three months. 0.97% of the stock is owned by company insiders.

Coca-Cola Price Performance

Coca-Cola stock traded down $0.20 during mid-day trading on Tuesday, hitting $64.91. 885,442 shares of the company traded hands, compared to its average volume of 13,188,194. The Coca-Cola Company has a one year low of $56.06 and a one year high of $73.53. The stock has a market cap of $279.62 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 3.95 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock has a fifty day moving average price of $70.18 and a 200-day moving average price of $66.41.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business’s revenue was down .8% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. On average, equities 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. Investors of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

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.