TBH Global Asset Management LLC Reduces Holdings in The Coca-Cola Company (NYSE:KO)

TBH Global Asset Management LLC lessened its stake in The Coca-Cola Company (NYSE:KOFree Report) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,950 shares of the company’s stock after selling 335 shares during the period. TBH Global Asset Management LLC’s holdings in Coca-Cola were worth $2,119,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Team Hewins LLC acquired a new position in shares of Coca-Cola during the fourth quarter valued at $968,000. Cypress Asset Management Inc. TX acquired a new position in shares of Coca-Cola during the fourth quarter valued at $2,407,000. TCW Group Inc. acquired a new position in shares of Coca-Cola during the fourth quarter valued at $3,852,000. SageView Advisory Group LLC lifted its holdings in Coca-Cola by 39.5% in the fourth quarter. SageView Advisory Group LLC now owns 33,977 shares of the company’s stock worth $2,035,000 after purchasing an additional 9,623 shares during the period. Finally, Cassady Schiller Wealth Management LLC lifted its holdings in Coca-Cola by 5.7% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 4,568 shares of the company’s stock worth $269,000 after purchasing an additional 248 shares during the period. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Evercore ISI upped their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Argus upped their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays boosted their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price target 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. Finally, UBS Group boosted their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.58.

Read Our Latest Report on Coca-Cola

Coca-Cola Trading Down 0.1 %

NYSE KO traded down $0.09 on Friday, hitting $62.00. 8,196,568 shares of the company were exchanged, compared to its average volume of 13,354,404. The company’s 50 day moving average price is $61.03 and its 200-day moving average price is $59.84. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The firm has a market capitalization of $267.09 billion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 3.58 and a beta of 0.57. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $63.76.

Coca-Cola (NYSE:KOGet Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The company 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%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. Analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company 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 $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.13%. Coca-Cola’s payout ratio is 77.60%.

Insider Activity at Coca-Cola

In related news, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the sale, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 199,389 shares of company stock valued at $12,322,179. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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