Roanoke Asset Management Corp NY Has $7.50 Million Holdings in The Coca-Cola Company (NYSE:KO)

Roanoke Asset Management Corp NY lessened its stake in The Coca-Cola Company (NYSE:KO) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,375 shares of the company’s stock after selling 450 shares during the quarter. Coca-Cola makes up 2.4% of Roanoke Asset Management Corp NY’s holdings, making the stock its 12th biggest position. Roanoke Asset Management Corp NY’s holdings in Coca-Cola were worth $7,500,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. New Millennium Group LLC acquired a new stake in Coca-Cola during the 2nd quarter valued at $26,000. Quarry LP acquired a new stake in Coca-Cola during the 2nd quarter valued at $27,000. ESL Trust Services LLC acquired a new stake in Coca-Cola during the 1st quarter valued at $28,000. DiNuzzo Private Wealth Inc. lifted its holdings in Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.5 %

Shares of NYSE KO opened at $65.00 on Friday. The Coca-Cola Company has a 52 week low of $56.06 and a 52 week high of $73.53. 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 stock’s fifty day moving average is $70.29 and its 200 day moving average is $66.26. The stock has a market capitalization of $280.01 billion, a P/E ratio of 26.86, a PEG ratio of 4.00 and a beta of 0.60.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the business posted $0.74 earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. Sell-side analysts forecast that The Coca-Cola Company will post 2.85 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, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Morgan Stanley dropped their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Finally, Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $71.80.

Insider Activity

In other news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated 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 sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 261,870 shares of company stock valued at $18,256,369. 0.97% of the stock is currently owned by corporate insiders.

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.