International Assets Investment Management LLC Sells 1,717,402 Shares of The Coca-Cola Company (NYSE:KO)

International Assets Investment Management LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 98.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,900 shares of the company’s stock after selling 1,717,402 shares during the period. International Assets Investment Management LLC’s holdings in Coca-Cola were worth $1,664,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of KO. Quarry LP acquired a new position in shares of Coca-Cola during the second quarter worth $27,000. Hara Capital LLC purchased a new position in Coca-Cola during the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola during the 3rd quarter valued at about $36,000. MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola in the third quarter valued at about $43,000. Finally, ORG Wealth Partners LLC acquired a new stake in Coca-Cola in the third quarter worth about $58,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

KO has been the topic of several recent analyst reports. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday. Wells Fargo & Company decreased their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Barclays lowered their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $72.60.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Price Performance

Coca-Cola stock opened at $61.73 on Thursday. The company’s 50 day simple moving average is $63.07 and its 200-day simple moving average is $66.52. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The company has a market capitalization of $265.92 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates 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 was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. As a group, equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.485 per share. The ex-dividend date was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

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.