Stokes Family Office LLC Sells 10,742 Shares of The Coca-Cola Company (NYSE:KO)

Stokes Family Office LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 30.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,874 shares of the company’s stock after selling 10,742 shares during the period. Stokes Family Office LLC’s holdings in Coca-Cola were worth $1,466,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KO. Morgan Stanley raised its stake in Coca-Cola by 2.5% during the 3rd quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after buying an additional 1,950,146 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Coca-Cola by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock worth $3,501,789,000 after buying an additional 2,464,618 shares during the period. Northern Trust Corp raised its stake in Coca-Cola by 4.8% during the 3rd quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after buying an additional 2,040,664 shares during the period. Invesco Ltd. raised its stake in Coca-Cola by 8.2% during the 3rd quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock worth $1,446,822,000 after buying an additional 1,963,963 shares during the period. Finally, California Public Employees Retirement System raised its stake in Coca-Cola by 16.4% during the 4th quarter. California Public Employees Retirement System now owns 13,804,908 shares of the company’s stock worth $813,523,000 after buying an additional 1,949,500 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at Coca-Cola

In related news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $26,968,753.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 323,107 shares of company stock valued at $19,657,742. 0.97% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KO. UBS Group raised their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays raised their price objective on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup raised their price objective on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. lifted their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Evercore ISI lifted their price target on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.27.

Coca-Cola Stock Up 0.3 %

Shares of NYSE:KO traded up $0.18 during midday trading on Friday, reaching $62.18. The company had a trading volume of 11,627,983 shares, compared to its average volume of 14,021,238. The company has a quick ratio of 0.95, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The business’s 50 day moving average price is $60.22 and its 200 day moving average price is $59.06. The stock has a market cap of $268.05 billion, a PE ratio of 24.87, a P/E/G ratio of 3.54 and a beta of 0.57. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.25.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. Coca-Cola’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. Research analysts forecast that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio is currently 77.60%.

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.