Thompson Siegel & Walmsley LLC Trims Stock Position in The Coca-Cola Company (NYSE:KO)

Thompson Siegel & Walmsley LLC trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 9.5% during the 2nd quarter, Holdings Channel reports. The fund owned 16,103 shares of the company’s stock after selling 1,698 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Coca-Cola were worth $1,025,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tidemark LLC purchased a new stake in shares of Coca-Cola during the 4th quarter worth about $26,000. New Millennium Group LLC purchased a new position in Coca-Cola during the second quarter worth approximately $26,000. Redmont Wealth Advisors LLC acquired a new stake in Coca-Cola in the first quarter valued at approximately $28,000. ESL Trust Services LLC purchased a new stake in shares of Coca-Cola in the first quarter valued at approximately $28,000. Finally, Frazier Financial Advisors LLC acquired a new position in shares of Coca-Cola during the 4th quarter worth approximately $31,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on KO shares. Bank of America lifted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Morgan Stanley upped their price target on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Finally, TD Cowen lifted their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $71.07.

Coca-Cola Stock Up 1.0 %

NYSE:KO opened at $72.10 on Tuesday. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The stock’s fifty day moving average is $68.47 and its two-hundred day moving average is $64.04. The stock has a market capitalization of $310.60 billion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. Research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insider Buying and Selling

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Quincey sold 102,533 shares of Coca-Cola 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 owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The disclosure for this sale can be found here. Insiders have sold a total of 974,715 shares of company stock valued at $579,704,927 in the last ninety days. Company insiders own 0.97% of the company’s stock.

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.