Sand Hill Global Advisors LLC Sells 759 Shares of The Coca-Cola Company (NYSE:KO)

Sand Hill Global Advisors LLC reduced its holdings in shares of The Coca-Cola Company (NYSE:KO) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,657 shares of the company’s stock after selling 759 shares during the quarter. Sand Hill Global Advisors LLC’s holdings in Coca-Cola were worth $333,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Central Valley Advisors LLC purchased a new position in Coca-Cola during the fourth quarter worth about $350,000. InterOcean Capital Group LLC raised its position in Coca-Cola by 442.1% in the fourth quarter. InterOcean Capital Group LLC now owns 169,806 shares of the company’s stock worth $10,007,000 after acquiring an additional 138,485 shares during the period. EverSource Wealth Advisors LLC raised its position in Coca-Cola by 9.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 10,697 shares of the company’s stock worth $630,000 after acquiring an additional 925 shares during the period. Capital Management Associates NY raised its position in Coca-Cola by 50.0% in the fourth quarter. Capital Management Associates NY now owns 10,500 shares of the company’s stock worth $619,000 after acquiring an additional 3,500 shares during the period. Finally, TSA Wealth Managment LLC bought a new stake in Coca-Cola in the fourth quarter worth about $4,032,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Down 0.5 %

Coca-Cola stock traded down $0.32 during trading hours on Thursday, hitting $62.68. The stock had a trading volume of 2,897,416 shares, compared to its average volume of 13,363,899. The stock’s 50-day moving average price is $61.00 and its 200-day moving average price is $59.83. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $63.76. The stock has a market capitalization of $270.02 billion, a P/E ratio of 25.12, a price-to-earnings-growth ratio of 3.57 and a beta of 0.57. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same period in the previous year, the business posted $0.68 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts anticipate that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Friday, June 14th. Coca-Cola’s payout ratio is 77.60%.

Insider Activity at Coca-Cola

In related news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Henrique Braun sold 57,298 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $63.08, for a total transaction of $3,614,357.84. Following the completion of the transaction, the executive vice president now owns 52,466 shares in the company, valued at $3,309,555.28. The disclosure for this sale can be found here. Insiders have sold a total of 199,389 shares of company stock valued at $12,322,179 over the last 90 days. 0.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

KO has been the topic of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Argus boosted their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday. UBS Group boosted their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Barclays boosted their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, Evercore ISI boosted their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $68.58.

About Coca-Cola

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.