The Coca-Cola Company (NYSE:KO) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors decreased its stake in The Coca-Cola Company (NYSE:KO) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 161,957 shares of the company’s stock after selling 2,493 shares during the quarter. Coca-Cola makes up 1.2% of Tower Bridge Advisors’ holdings, making the stock its 25th biggest position. Tower Bridge Advisors’ holdings in Coca-Cola were worth $11,638,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of KO. New Millennium Group LLC acquired a new position in Coca-Cola in the 2nd quarter valued at about $26,000. Quarry LP purchased a new stake in shares of Coca-Cola during the 2nd quarter valued at approximately $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the 3rd quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola in the third quarter valued at approximately $36,000. Finally, Mount Lucas Management LP purchased a new position in Coca-Cola in the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 1.3 %

NYSE:KO opened at $61.74 on Friday. The Coca-Cola Company has a 12-month low of $56.70 and a 12-month high of $73.53. The firm has a market cap of $265.96 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 3.75 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a fifty day moving average price of $68.63 and a 200 day moving average price of $66.51.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) 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 business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter last year, the business posted $0.74 EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on KO shares. Morgan Stanley reduced their target price 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 upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, Barclays lowered their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the firm’s 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 sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 303,748 shares of company stock worth $20,677,431. 0.97% of the stock is currently owned by corporate insiders.

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.