Cigna Investments Inc. New Trims Stock Position in The Coca-Cola Company (NYSE:KO)

Cigna Investments Inc. New lessened its stake in The Coca-Cola Company (NYSE:KO) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,200 shares of the company’s stock after selling 688 shares during the period. Coca-Cola accounts for approximately 0.5% of Cigna Investments Inc. New’s portfolio, making the stock its 28th largest position. Cigna Investments Inc. New’s holdings in Coca-Cola were worth $2,889,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Apella Capital LLC raised its holdings in shares of Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after buying an additional 146 shares during the last quarter. Investment Advisory Group LLC raised its stake in Coca-Cola by 4.5% during the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after acquiring an additional 146 shares in the last quarter. Elwood & Goetz Wealth Advisory Group LLC boosted its position in Coca-Cola by 2.2% during the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after acquiring an additional 149 shares during the period. CCG Wealth Management LLC grew its stake in shares of Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after purchasing an additional 149 shares in the last quarter. Finally, Investment Partners Asset Management Inc. increased its holdings in shares of Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In other Coca-Cola news, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,074,330.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Coca-Cola news, EVP Lisa Chang sold 58,122 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total value of $3,981,938.22. Following the completion of the sale, the executive vice president now owns 74,067 shares in the company, valued at $5,074,330.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 261,870 shares of company stock worth $18,256,369. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Price Performance

NYSE KO opened at $65.31 on Friday. 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 Coca-Cola Company has a 1 year low of $56.06 and a 1 year high of $73.53. The company has a market cap of $281.34 billion, a PE ratio of 26.99, a PEG ratio of 4.00 and a beta of 0.60. The stock’s 50-day moving average price is $70.39 and its two-hundred day moving average price is $66.21.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating 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 business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the business earned $0.74 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. On average, analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 2.97%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Wall Street Analysts Forecast Growth

KO has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Morgan Stanley decreased their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Barclays cut their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

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.