Summit Trail Advisors LLC Cuts Holdings in The Coca-Cola Company (NYSE:KO)

Summit Trail Advisors LLC lessened its stake in The Coca-Cola Company (NYSE:KO) by 13.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,868 shares of the company’s stock after selling 3,143 shares during the quarter. Summit Trail Advisors LLC’s holdings in Coca-Cola were worth $1,171,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Spire Wealth Management raised its holdings in Coca-Cola by 9.0% during the fourth quarter. Spire Wealth Management now owns 137,523 shares of the company’s stock worth $8,228,000 after purchasing an additional 11,402 shares in the last quarter. Metis Global Partners LLC boosted its stake in Coca-Cola by 11.3% in the fourth quarter. Metis Global Partners LLC now owns 204,697 shares of the company’s stock valued at $12,063,000 after acquiring an additional 20,859 shares in the last quarter. Gallacher Capital Management LLC grew its holdings in shares of Coca-Cola by 127.3% during the fourth quarter. Gallacher Capital Management LLC now owns 9,248 shares of the company’s stock worth $545,000 after purchasing an additional 5,179 shares during the last quarter. Fi3 FINANCIAL ADVISORS LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth about $267,000. Finally, SYM FINANCIAL Corp lifted its holdings in shares of Coca-Cola by 6.6% in the 4th quarter. SYM FINANCIAL Corp now owns 6,693 shares of the company’s stock valued at $394,000 after purchasing an additional 417 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Trading Up 0.3 %

NYSE KO traded up $0.19 during mid-day trading on Monday, reaching $62.36. 9,309,869 shares of the stock were exchanged, compared to its average volume of 13,967,127. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.25. The stock has a market capitalization of $268.64 billion, a PE ratio of 24.80, a PEG ratio of 3.53 and a beta of 0.57. The business’s fifty day simple moving average is $60.24 and its 200 day simple moving average is $59.19. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts anticipate that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insider Activity at Coca-Cola

In other news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction on Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 323,107 shares of company stock worth $19,657,742. 0.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

KO has been the topic of a number of research reports. UBS Group raised their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Barclays lifted their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Evercore ISI upped their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, Citigroup lifted their price objective on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $68.27.

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.