Portfolio Design Labs LLC Has $2.39 Million Position in The Coca-Cola Company (NYSE:KO)

Portfolio Design Labs LLC lessened its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 22.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,316 shares of the company's stock after selling 9,878 shares during the quarter. Portfolio Design Labs LLC's holdings in Coca-Cola were worth $2,394,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. New Millennium Group LLC acquired a new stake in Coca-Cola in the 2nd quarter worth approximately $26,000. Quarry LP acquired a new position in shares of Coca-Cola during the second quarter worth approximately $27,000. Hara Capital LLC acquired a new position in shares of Coca-Cola during the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola during the third quarter worth approximately $36,000. Finally, Mount Lucas Management LP acquired a new position in shares of Coca-Cola during the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insiders Place Their Bets

In related news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company's stock, valued at approximately $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Quincey sold 42,397 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company's stock, valued at $30,987,070.92. This trade represents a 8.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 160,881 shares of company stock worth $10,693,244 over the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. Barclays lowered their price objective 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. 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. Citigroup boosted their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. Finally, TD Cowen boosted their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a "hold" rating in a research note on Thursday, July 25th. Four equities 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.36.

Coca-Cola Trading Up 0.7 %

NYSE:KO traded up $0.42 during mid-day trading on Wednesday, hitting $63.01. The company had a trading volume of 18,895,553 shares, compared to its average volume of 13,411,643. The Coca-Cola Company has a fifty-two week low of $57.33 and a fifty-two week high of $73.53. The business's fifty day moving average is $68.25 and its two-hundred day moving average is $66.55. 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 firm has a market cap of $271.43 billion, a P/E ratio of 25.68, a P/E/G ratio of 3.75 and a beta of 0.61.

Coca-Cola (NYSE:KO - Get Free Report) last released its earnings results 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 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The company's quarterly revenue was down .8% on a year-over-year basis. As a group, research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.08%. Coca-Cola's dividend payout ratio (DPR) is currently 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.