The Coca-Cola Company (NYSE:KO) Stock Holdings Reduced by Sound View Wealth Advisors Group LLC


Share on StockTwits

Sound View Wealth Advisors Group LLC lowered its position in The Coca-Cola Company (NYSE:KO) by 1.2% during the first quarter, HoldingsChannel.com reports. The firm owned 107,825 shares of the company’s stock after selling 1,277 shares during the quarter. The Coca-Cola makes up approximately 1.3% of Sound View Wealth Advisors Group LLC’s holdings, making the stock its 17th largest holding. Sound View Wealth Advisors Group LLC’s holdings in The Coca-Cola were worth $5,683,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Successful Portfolios LLC raised its stake in The Coca-Cola by 1.0% during the first quarter. Successful Portfolios LLC now owns 18,380 shares of the company’s stock valued at $969,000 after buying an additional 185 shares during the last quarter. Murphy Middleton Hinkle & Parker Inc. raised its stake in shares of The Coca-Cola by 0.4% in the first quarter. Murphy Middleton Hinkle & Parker Inc. now owns 48,722 shares of the company’s stock worth $2,568,000 after purchasing an additional 189 shares during the last quarter. Independence Bank of Kentucky raised its stake in shares of The Coca-Cola by 0.6% in the first quarter. Independence Bank of Kentucky now owns 35,601 shares of the company’s stock worth $1,877,000 after purchasing an additional 195 shares during the last quarter. Tri Star Advisors Inc. raised its stake in shares of The Coca-Cola by 0.3% in the first quarter. Tri Star Advisors Inc. now owns 68,359 shares of the company’s stock worth $3,670,000 after purchasing an additional 199 shares during the last quarter. Finally, BTR Capital Management Inc. raised its stake in shares of The Coca-Cola by 0.7% in the fourth quarter. BTR Capital Management Inc. now owns 28,904 shares of the company’s stock worth $1,585,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 65.99% of the company’s stock.

In related news, VP Kathy Loveless sold 501 shares of the stock in a transaction that occurred on Friday, March 19th. The stock was sold at an average price of $50.46, for a total value of $25,280.46. Following the transaction, the vice president now owns 10,224 shares of the company’s stock, valued at $515,903.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Alfredo Rivera sold 20,000 shares of the stock in a transaction that occurred on Tuesday, March 9th. The stock was sold at an average price of $51.15, for a total value of $1,023,000.00. Following the completion of the transaction, the insider now directly owns 62,000 shares in the company, valued at approximately $3,171,300. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,501 shares of company stock worth $11,883,380. Company insiders own 1.01% of the company’s stock.

A number of analysts recently commented on KO shares. Royal Bank of Canada upgraded The Coca-Cola from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $55.00 to $60.00 in a research report on Monday, March 15th. Credit Suisse Group reissued a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a report on Wednesday, April 21st. Deutsche Bank Aktiengesellschaft lowered The Coca-Cola from a “buy” rating to a “hold” rating and cut their price target for the company from $57.00 to $55.00 in a report on Tuesday, January 5th. JPMorgan Chase & Co. lowered The Coca-Cola from an “overweight” rating to a “neutral” rating and set a $55.00 price target for the company. in a report on Thursday, January 7th. Finally, Sanford C. Bernstein began coverage on The Coca-Cola in a report on Tuesday, January 19th. They set an “outperform” rating and a $58.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $57.69.

KO stock traded down $0.16 during midday trading on Tuesday, reaching $54.32. 195,323 shares of the company traded hands, compared to its average volume of 17,970,572. The Coca-Cola Company has a 52-week low of $43.20 and a 52-week high of $54.93. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.01 and a current ratio of 1.13. The business has a 50 day moving average of $52.90 and a 200-day moving average of $51.54. The firm has a market capitalization of $234.21 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 5.70 and a beta of 0.58.

The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Sunday, April 18th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. The Coca-Cola had a return on equity of 41.37% and a net margin of 24.90%. The firm had revenue of $9 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same period in the prior year, the business posted $0.51 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts anticipate that The Coca-Cola Company will post 1.88 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Tuesday, June 15th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Monday, June 14th. This represents a $1.68 annualized dividend and a dividend yield of 3.09%. The Coca-Cola’s payout ratio is 79.62%.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

Read More: What is an inverted yield curve?

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KO).

Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.