Evanson Asset Management LLC Sells 1,790 Shares of The Coca-Cola Company (NYSE:KO)

Evanson Asset Management LLC cut its stake in shares of The Coca-Cola Company (NYSE:KOGet Rating) by 30.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,101 shares of the company’s stock after selling 1,790 shares during the quarter. Evanson Asset Management LLC’s holdings in Coca-Cola were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nauset Wealth Management. LLC bought a new stake in Coca-Cola during the 1st quarter worth approximately $27,000. Delos Wealth Advisors LLC grew its holdings in Coca-Cola by 4,770.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 487 shares of the company’s stock worth $29,000 after acquiring an additional 477 shares during the last quarter. Carl Stuart Investment Advisor Inc. bought a new stake in Coca-Cola during the 1st quarter worth approximately $34,000. Hillsdale Investment Management Inc. bought a new stake in Coca-Cola during the 1st quarter worth approximately $35,000. Finally, Rational Advisors LLC bought a new stake in Coca-Cola during the 1st quarter worth approximately $37,000. 68.93% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Coca-Cola news, VP Kathy Loveless sold 2,512 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $64.00, for a total transaction of $160,768.00. Following the transaction, the vice president now owns 1,370 shares in the company, valued at $87,680. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Kathy Loveless sold 2,512 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $64.00, for a total value of $160,768.00. Following the completion of the sale, the vice president now owns 1,370 shares in the company, valued at approximately $87,680. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Quincey sold 32,000 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $64.09, for a total transaction of $2,050,880.00. Following the completion of the sale, the chief executive officer now owns 351,737 shares of the company’s stock, valued at approximately $22,542,824.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,830 shares of company stock worth $2,939,961. Insiders own 0.98% of the company’s stock.

Coca-Cola Stock Down 0.8 %

Coca-Cola stock opened at $59.40 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.48. The Coca-Cola Company has a 12-month low of $52.28 and a 12-month high of $67.20. The firm’s fifty day moving average is $62.64 and its 200 day moving average is $62.68. The company has a market capitalization of $256.88 billion, a PE ratio of 26.88, a PEG ratio of 3.79 and a beta of 0.54.

Coca-Cola (NYSE:KOGet Rating) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. Coca-Cola had a net margin of 23.16% and a return on equity of 42.13%. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $10.57 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.46 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 16th will be issued a dividend of $0.44 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.76 annualized dividend and a yield of 2.96%. Coca-Cola’s payout ratio is 79.64%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on KO shares. Morgan Stanley reduced their target price on shares of Coca-Cola from $76.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, July 27th. JPMorgan Chase & Co. set a $70.00 price objective on shares of Coca-Cola in a research note on Tuesday, July 26th. Credit Suisse Group set a $68.00 price objective on shares of Coca-Cola in a research note on Wednesday, July 20th. UBS Group upped their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Finally, Royal Bank of Canada set a $69.00 price objective on shares of Coca-Cola in a research note on Tuesday, July 26th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.59.

Coca-Cola Company Profile

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The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-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.

Further Reading

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

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