Coca-Cola Co (The) (NYSE:KO) Stake Cut by Arlington Partners LLC

Arlington Partners LLC cut its position in shares of Coca-Cola Co (The) (NYSE:KO) by 11.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,985 shares of the company’s stock after selling 1,200 shares during the quarter. Arlington Partners LLC’s holdings in Coca-Cola were worth $444,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in KO. BlackRock Inc. lifted its stake in Coca-Cola by 6.7% during the second quarter. BlackRock Inc. now owns 298,038,286 shares of the company’s stock worth $13,316,350,000 after purchasing an additional 18,701,930 shares during the last quarter. Capital World Investors lifted its stake in Coca-Cola by 17.8% during the first quarter. Capital World Investors now owns 38,240,690 shares of the company’s stock worth $1,692,153,000 after purchasing an additional 5,792,057 shares during the last quarter. Advisor Group Holdings Inc. bought a new position in Coca-Cola during the first quarter worth $47,894,000. APG Asset Management N.V. lifted its stake in Coca-Cola by 39.7% during the first quarter. APG Asset Management N.V. now owns 12,591,482 shares of the company’s stock worth $557,173,000 after purchasing an additional 3,580,852 shares during the last quarter. Finally, State Street Corp lifted its stake in Coca-Cola by 1.0% in the first quarter. State Street Corp now owns 183,307,489 shares of the company’s stock valued at $8,185,610,000 after buying an additional 1,787,004 shares during the last quarter. Hedge funds and other institutional investors own 65.86% of the company’s stock.

A number of equities research analysts have issued reports on KO shares. Zacks Investment Research cut Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 target price on the stock. in a research note on Tuesday, September 22nd. Morgan Stanley upgraded Coca-Cola from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $52.00 to $54.00 in a research note on Wednesday, July 22nd. They noted that the move was a valuation call. Finally, Bank of America reiterated a “buy” rating and issued a $53.00 target price on shares of Coca-Cola in a research note on Friday, July 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $54.19.

In related news, Director David B. Weinberg sold 98,905 shares of Coca-Cola stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $48.50, for a total transaction of $4,796,892.50. Following the transaction, the director now directly owns 355,214 shares of the company’s stock, valued at $17,227,879. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Robert Edward Long sold 37,534 shares of Coca-Cola stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $48.21, for a total value of $1,809,514.14. Following the completion of the transaction, the senior vice president now directly owns 82,502 shares in the company, valued at approximately $3,977,421.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 836,439 shares of company stock worth $40,380,407. 1.01% of the stock is owned by corporate insiders.

Shares of KO opened at $50.03 on Friday. The firm has a market capitalization of $214.90 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 5.91 and a beta of 0.55. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.96 and a current ratio of 1.09. Coca-Cola Co has a one year low of $36.27 and a one year high of $60.13. The stock’s fifty day moving average is $49.97 and its 200-day moving average is $47.25.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, July 21st. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.26 billion. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. Coca-Cola’s revenue was down 28.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 earnings per share. Analysts forecast that Coca-Cola Co will post 1.79 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Monday, November 30th. Coca-Cola’s payout ratio is currently 77.73%.

Coca-Cola Company Profile

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 Coca-Cola (NYSE:KO)

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