The Coca-Cola Company (NYSE:KO) Holdings Cut by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 8.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,818 shares of the company’s stock after selling 12,544 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Coca-Cola were worth $7,768,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of KO. Insigneo Advisory Services LLC lifted its stake in shares of Coca-Cola by 12.2% in the 3rd quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock valued at $2,354,000 after purchasing an additional 4,527 shares during the last quarter. HF Advisory Group LLC raised its stake in shares of Coca-Cola by 7.6% in the 3rd quarter. HF Advisory Group LLC now owns 6,770 shares of the company’s stock valued at $379,000 after acquiring an additional 476 shares in the last quarter. Wahed Invest LLC lifted its holdings in Coca-Cola by 10.3% in the 3rd quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock worth $3,435,000 after purchasing an additional 5,707 shares during the last quarter. Cohen Lawrence B grew its holdings in Coca-Cola by 2.8% during the third quarter. Cohen Lawrence B now owns 40,872 shares of the company’s stock valued at $2,288,000 after purchasing an additional 1,111 shares during the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its stake in shares of Coca-Cola by 3.2% in the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 46,470 shares of the company’s stock worth $2,738,000 after buying an additional 1,455 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

KO traded up $0.30 during midday trading on Monday, reaching $62.04. 13,408,636 shares of the company’s stock were exchanged, compared to its average volume of 13,989,262. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.69. The firm has a market capitalization of $267.47 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. The business has a 50-day simple moving average of $60.12 and a two-hundred day simple moving average of $58.89. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The firm had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same period in the previous year, the business earned $0.45 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts predict that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.485 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.13%. Coca-Cola’s dividend payout ratio (DPR) is 78.23%.

Insider Activity at Coca-Cola

In other news, EVP Nancy Quan sold 57,368 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock valued at $22,795,742 over the last ninety days. 0.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KO. JPMorgan Chase & Co. lowered their price target on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Barclays increased their price objective on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Finally, Citigroup upped their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.22.

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.