Boston Family Office LLC Has $3.36 Million Holdings in The Coca-Cola Company (NYSE:KO)

Boston Family Office LLC trimmed its position in The Coca-Cola Company (NYSE:KO) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,771 shares of the company’s stock after selling 464 shares during the quarter. Boston Family Office LLC’s holdings in Coca-Cola were worth $3,361,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Barclays decreased their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Morgan Stanley reduced their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company lifted their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $63.92 on Monday. The company has a 50-day simple moving average of $67.79 and a two-hundred day simple moving average of $66.57. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The stock has a market capitalization of $275.35 billion, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 3.88 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The business’s revenue was down .8% on a year-over-year basis. Analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, 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. 0.97% of the stock is currently owned by company insiders.

About Coca-Cola

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.