Jacobs & Co. CA Trims Stake in The Coca-Cola Company (NYSE:KO)

Jacobs & Co. CA reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 5.3% in the second quarter, Holdings Channel reports. The firm owned 135,325 shares of the company’s stock after selling 7,523 shares during the period. Jacobs & Co. CA’s holdings in Coca-Cola were worth $8,149,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC lifted its holdings in Coca-Cola by 103,297.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock valued at $3,672,479,000 after acquiring an additional 57,678,466 shares during the period. Norges Bank purchased a new position in Coca-Cola in the 4th quarter valued at about $2,937,315,000. Morgan Stanley boosted its stake in shares of Coca-Cola by 15.7% in the fourth quarter. Morgan Stanley now owns 79,101,856 shares of the company’s stock worth $5,031,669,000 after acquiring an additional 10,722,435 shares during the last quarter. Gateway Advisory LLC grew its holdings in shares of Coca-Cola by 26,580.3% during the first quarter. Gateway Advisory LLC now owns 4,330,750 shares of the company’s stock worth $4,331,000 after buying an additional 4,314,518 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Coca-Cola by 7.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 58,090,088 shares of the company’s stock valued at $3,662,834,000 after acquiring an additional 4,147,833 shares during the last quarter. 68.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada lifted their target price on shares of Coca-Cola from $69.00 to $70.00 in a research note on Thursday, July 27th. Barclays raised their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. HSBC lowered their price target on Coca-Cola from $77.00 to $74.00 in a report on Wednesday, June 7th. Wedbush lifted their price objective on shares of Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Finally, StockNews.com began coverage on Coca-Cola in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $68.33.

Insider Activity at Coca-Cola

In other Coca-Cola news, SVP Monica Howard Douglas sold 21,074 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the sale, the senior vice president now directly owns 18,360 shares of the company’s stock, valued at approximately $1,118,124. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO John Murphy sold 156,290 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $62.10, for a total transaction of $9,705,609.00. Following the completion of the transaction, the chief financial officer now owns 228,830 shares of the company’s stock, valued at approximately $14,210,343. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Monica Howard Douglas sold 21,074 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the completion of the sale, the senior vice president now directly owns 18,360 shares in the company, valued at $1,118,124. The disclosure for this sale can be found here. In the last quarter, insiders sold 227,364 shares of company stock valued at $14,122,016. 1.00% of the stock is owned by insiders.

Coca-Cola Stock Down 0.0 %

Shares of NYSE KO opened at $57.93 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.14 and a quick ratio of 0.95. The firm’s 50-day moving average is $60.49 and its two-hundred day moving average is $61.25. The Coca-Cola Company has a 12-month low of $54.01 and a 12-month high of $64.99. The company has a market capitalization of $250.51 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 3.43 and a beta of 0.55.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The firm had revenue of $12 billion for the quarter, compared to analyst estimates of $11.74 billion. Coca-Cola had a return on equity of 43.06% and a net margin of 23.81%. Coca-Cola’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. Equities analysts anticipate that The Coca-Cola Company will post 2.63 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Thursday, September 14th. Coca-Cola’s dividend payout ratio is presently 75.72%.

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.