Modera Wealth Management LLC Decreases Position in The Coca-Cola Co (NYSE:KO)

Modera Wealth Management LLC cut its stake in shares of The Coca-Cola Co (NYSE:KO) by 25.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,452 shares of the company’s stock after selling 3,651 shares during the period. Modera Wealth Management LLC’s holdings in The Coca-Cola were worth $532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. Patriot Financial Group Insurance Agency LLC raised its position in The Coca-Cola by 17.1% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 14,309 shares of the company’s stock valued at $744,000 after purchasing an additional 2,093 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in The Coca-Cola by 6.9% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,913,634 shares of the company’s stock valued at $199,908,000 after purchasing an additional 254,276 shares during the period. Balasa Dinverno & Foltz LLC raised its position in The Coca-Cola by 27.3% during the second quarter. Balasa Dinverno & Foltz LLC now owns 10,825 shares of the company’s stock valued at $551,000 after purchasing an additional 2,320 shares during the period. RB Capital Management LLC raised its position in The Coca-Cola by 2.2% during the second quarter. RB Capital Management LLC now owns 33,928 shares of the company’s stock valued at $1,728,000 after purchasing an additional 742 shares during the period. Finally, Semmax Financial Advisors Inc. raised its position in The Coca-Cola by 64.9% during the second quarter. Semmax Financial Advisors Inc. now owns 33,614 shares of the company’s stock valued at $1,712,000 after purchasing an additional 13,235 shares during the period. Institutional investors and hedge funds own 66.84% of the company’s stock.

NYSE:KO traded down $0.75 during midday trading on Friday, hitting $53.74. The stock had a trading volume of 9,573,642 shares, compared to its average volume of 12,777,964. The Coca-Cola Co has a one year low of $44.25 and a one year high of $54.82. The company has a market capitalization of $233.00 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 3.79 and a beta of 0.48. The stock has a 50-day moving average of $52.94 and a 200 day moving average of $49.30. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 1.44.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The company had revenue of $10 billion for the quarter, compared to analysts’ expectations of $9.86 billion. During the same quarter in the prior year, the firm earned $0.61 earnings per share. The Coca-Cola’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that The Coca-Cola Co will post 2.1 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.60 annualized dividend and a yield of 2.98%. The Coca-Cola’s dividend payout ratio (DPR) is currently 76.92%.

A number of brokerages have issued reports on KO. Bank of America restated a “buy” rating and set a $60.00 price objective (up from $55.00) on shares of The Coca-Cola in a research report on Wednesday, July 24th. Atlantic Securities began coverage on The Coca-Cola in a research note on Monday, July 29th. They set an “overweight” rating and a $62.00 target price on the stock. BMO Capital Markets upped their target price on The Coca-Cola from $48.00 to $52.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Credit Suisse Group upped their target price on The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, HSBC reaffirmed a “neutral” rating and set a $52.00 target price on shares of The Coca-Cola in a research note on Wednesday, July 24th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $54.10.

In other The Coca-Cola news, insider Francisco Crespo sold 125,948 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $6,297,400.00. Following the sale, the insider now owns 186,631 shares of the company’s stock, valued at approximately $9,331,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John Murphy sold 84,400 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $49.99, for a total value of $4,219,156.00. Following the sale, the vice president now directly owns 133,715 shares in the company, valued at approximately $6,684,412.85. The disclosure for this sale can be found here. In the last three months, insiders sold 488,761 shares of company stock worth $25,417,705. 1.33% of the stock is owned by insiders.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant–based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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

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