CFS Investment Advisory Services LLC Trims Stock Position in The Coca-Cola Company (NYSE:KO)

CFS Investment Advisory Services LLC reduced its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 50.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,020 shares of the company's stock after selling 43,336 shares during the period. CFS Investment Advisory Services LLC's holdings in Coca-Cola were worth $3,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

Several research firms recently commented on KO. Wells Fargo & Company raised their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Cfra reiterated a "hold" rating on shares of Coca-Cola in a research report on Thursday, September 5th. Morgan Stanley lowered their price target on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. Finally, Barclays lowered their price target 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. Four 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $72.36.

Coca-Cola Trading Up 0.3 %

NYSE KO traded up $0.16 on Friday, reaching $63.92. 19,381,904 shares of the company were exchanged, compared to its average volume of 13,457,843. The business's fifty day moving average price is $67.94 and its 200 day moving average price is $66.50. The stock has a market capitalization of $275.35 billion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 3.80 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 Coca-Cola Company has a fifty-two week low of $57.47 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm's revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. Analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm 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 of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.04%. Coca-Cola's dividend payout ratio is currently 80.17%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nancy Quan sold 18,484 shares of the company's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 160,881 shares of company stock worth $10,693,244 over the last quarter. 0.97% of the stock is currently owned by company insiders.

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.