KCM Investment Advisors LLC Has $3.67 Million Position in The Coca-Cola Company (NYSE:KO)

KCM Investment Advisors LLC lowered its holdings in The Coca-Cola Company (NYSE:KO) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,998 shares of the company’s stock after selling 525 shares during the quarter. KCM Investment Advisors LLC’s holdings in Coca-Cola were worth $3,665,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harvest Portfolios Group Inc. bought a new stake in shares of Coca-Cola during the third quarter worth $18,383,000. Balentine LLC raised its position in shares of Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after acquiring an additional 13,685 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Coca-Cola by 4.8% during the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after acquiring an additional 21,005 shares during the last quarter. United Bank raised its position in shares of Coca-Cola by 65.4% during the third quarter. United Bank now owns 80,888 shares of the company’s stock worth $5,813,000 after acquiring an additional 31,979 shares during the last quarter. Finally, Advisor Resource Council bought a new stake in shares of Coca-Cola during the third quarter worth $769,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 102,533 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This represents a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 40,334 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,150,619.18. This trade represents a 35.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 303,748 shares of company stock valued at $20,677,431. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 1.1 %

Shares of KO stock traded down $0.68 on Friday, hitting $61.87. 3,586,686 shares of the stock were exchanged, compared to its average volume of 13,262,701. 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 firm has a market capitalization of $266.52 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The business has a 50-day moving average of $68.82 and a 200 day moving average of $66.48. The Coca-Cola Company has a fifty-two week low of $56.70 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. Equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. TD Cowen boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Wells Fargo & Company upped their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Barclays dropped their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.36.

Coca-Cola Company 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.