Stokes Capital Advisors LLC Sells 1,961 Shares of The Coca-Cola Company (NYSE:KO)

Stokes Capital Advisors LLC lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 93,691 shares of the company’s stock after selling 1,961 shares during the quarter. Coca-Cola comprises approximately 1.9% of Stokes Capital Advisors LLC’s holdings, making the stock its 26th largest position. Stokes Capital Advisors LLC’s holdings in Coca-Cola were worth $5,642,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its position in shares of Coca-Cola by 103,297.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock worth $3,672,479,000 after purchasing an additional 57,678,466 shares during the last quarter. Norges Bank acquired a new position in shares of Coca-Cola during the 4th quarter worth about $2,937,315,000. Morgan Stanley lifted its position in shares of Coca-Cola by 15.7% during the 4th quarter. Morgan Stanley now owns 79,101,856 shares of the company’s stock worth $5,031,669,000 after purchasing an additional 10,722,435 shares during the last quarter. Gateway Advisory LLC lifted its position in shares of Coca-Cola by 26,580.3% during the 1st quarter. Gateway Advisory LLC now owns 4,330,750 shares of the company’s stock worth $4,331,000 after purchasing an additional 4,314,518 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Coca-Cola by 7.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 58,090,088 shares of the company’s stock worth $3,662,834,000 after purchasing an additional 4,147,833 shares during the last quarter. Institutional investors own 68.96% of the company’s stock.

Coca-Cola Price Performance

NYSE KO traded up $0.04 during trading hours on Monday, reaching $57.98. 4,414,937 shares of the company’s stock were exchanged, compared to its average volume of 13,106,132. The stock has a market cap of $250.73 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 3.43 and a beta of 0.55. The Coca-Cola Company has a one year low of $54.01 and a one year high of $64.99. The firm has a fifty day moving average of $60.49 and a 200-day moving average of $61.25. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $11.74 billion. Coca-Cola had a return on equity of 43.06% and a net margin of 23.81%. Coca-Cola’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 EPS. On average, equities research analysts predict that The Coca-Cola Company will post 2.63 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.84 dividend on an annualized basis and a yield of 3.17%. Coca-Cola’s payout ratio is 75.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Coca-Cola from $67.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. HSBC cut their price target on Coca-Cola from $77.00 to $74.00 in a report on Wednesday, June 7th. StockNews.com assumed coverage on Coca-Cola in a report on Thursday, August 17th. They issued a “buy” rating for the company. Wedbush upped their price target on Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Finally, Royal Bank of Canada upped their price target on Coca-Cola from $69.00 to $70.00 in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $68.33.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CFO John Murphy sold 156,290 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $62.10, for a total value of $9,705,609.00. Following the transaction, the chief financial officer now directly owns 228,830 shares in the company, valued at approximately $14,210,343. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, CFO John Murphy sold 156,290 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $62.10, for a total value of $9,705,609.00. Following the transaction, the chief financial officer now directly owns 228,830 shares in the company, valued at approximately $14,210,343. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Beatriz R. Perez sold 50,000 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $62.66, for a total value of $3,133,000.00. Following the completion of the transaction, the senior vice president now owns 143,383 shares in the company, valued at $8,984,378.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 227,364 shares of company stock worth $14,122,016. Insiders own 1.00% of the company’s stock.

Coca-Cola Company 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.