Mount Yale Investment Advisors LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 51.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,704 shares of the company's stock after selling 19,711 shares during the period. Mount Yale Investment Advisors LLC's holdings in Coca-Cola were worth $1,048,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of KO. FMR LLC boosted its stake in Coca-Cola by 20.0% during the 2nd quarter. FMR LLC now owns 99,695,103 shares of the company's stock valued at $6,271,819,000 after purchasing an additional 16,606,701 shares during the period. Capital World Investors lifted its stake in shares of Coca-Cola by 61.4% in the 1st quarter. Capital World Investors now owns 10,764,084 shares of the company's stock worth $667,373,000 after acquiring an additional 4,095,881 shares during the period. Artemis Investment Management LLP acquired a new stake in shares of Coca-Cola in the 2nd quarter worth approximately $187,201,000. Assenagon Asset Management S.A. lifted its stake in shares of Coca-Cola by 1,206.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,860,191 shares of the company's stock worth $160,228,000 after acquiring an additional 2,641,265 shares during the period. Finally, Barclays PLC lifted its stake in shares of Coca-Cola by 38.2% in the 3rd quarter. Barclays PLC now owns 7,331,682 shares of the company's stock worth $410,721,000 after acquiring an additional 2,024,813 shares during the period. 68.74% of the stock is owned by institutional investors and hedge funds.
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Analysts Set New Price Targets
Several analysts recently commented on KO shares. Evercore ISI cut their target price on shares of Coca-Cola to $68.00 in a research note on Thursday, October 20th. Wolfe Research started coverage on shares of Coca-Cola in a research note on Tuesday, October 11th. They set an "outperform" rating and a $63.00 target price for the company. UBS Group boosted their price target on shares of Coca-Cola from $63.00 to $68.00 in a report on Wednesday, October 26th. StockNews.com upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating in a report on Wednesday, January 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Coca-Cola from $59.00 to $62.00 and gave the company a "hold" rating in a report on Tuesday, December 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $66.90.
Coca-Cola Price Performance
Shares of Coca-Cola stock opened at $60.49 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.13 and a quick ratio of 0.95. The Coca-Cola Company has a fifty-two week low of $54.01 and a fifty-two week high of $67.20. The firm has a fifty day moving average price of $62.62 and a two-hundred day moving average price of $61.26. The company has a market cap of $261.59 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 3.83 and a beta of 0.57.
Coca-Cola (NYSE:KO – Get Rating) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. Coca-Cola had a net margin of 23.44% and a return on equity of 42.75%. The firm had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $10.60 billion. Analysts expect that The Coca-Cola Company will post 2.48 EPS for the current year.
Insider Buying and Selling at Coca-Cola
In other news, insider Brian John Smith sold 94,200 shares of the firm's stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $63.02, for a total transaction of $5,936,484.00. Following the completion of the transaction, the insider now directly owns 116,168 shares of the company's stock, valued at approximately $7,320,907.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Brian John Smith sold 94,200 shares of the firm's stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $63.02, for a total transaction of $5,936,484.00. Following the completion of the transaction, the insider now directly owns 116,168 shares of the company's stock, valued at approximately $7,320,907.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nancy Quan sold 13,746 shares of the firm's stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $61.12, for a total transaction of $840,155.52. Following the transaction, the senior vice president now directly owns 184,710 shares of the company's stock, valued at $11,289,475.20. The disclosure for this sale can be found here. Insiders sold a total of 276,986 shares of company stock valued at $17,218,050 in the last ninety days. Company insiders own 0.98% of the company's stock.
Coca-Cola Company Profile
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The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.
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