Fort L.P. Has $335,000 Stake in The Coca-Cola Company (NYSE:KO)

Fort L.P. lowered its position in The Coca-Cola Company (NYSE:KO) by 4.6% during the third quarter, Holdings Channel reports. The firm owned 4,657 shares of the company’s stock after selling 226 shares during the period. Coca-Cola comprises 0.8% of Fort L.P.’s portfolio, making the stock its 11th largest holding. Fort L.P.’s holdings in Coca-Cola were worth $335,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. TrueWealth Advisors LLC lifted its position in shares of Coca-Cola by 4.6% in the 3rd quarter. TrueWealth Advisors LLC now owns 5,170 shares of the company’s stock worth $371,000 after purchasing an additional 228 shares during the period. Angeles Wealth Management LLC lifted its position in shares of Coca-Cola by 4.3% during the 3rd quarter. Angeles Wealth Management LLC now owns 13,719 shares of the company’s stock valued at $986,000 after acquiring an additional 560 shares during the period. Van ECK Associates Corp lifted its position in shares of Coca-Cola by 6.1% during the 3rd quarter. Van ECK Associates Corp now owns 947,330 shares of the company’s stock valued at $64,428,000 after acquiring an additional 54,606 shares during the period. Whitener Capital Management Inc. lifted its position in shares of Coca-Cola by 2.9% during the 3rd quarter. Whitener Capital Management Inc. now owns 33,663 shares of the company’s stock valued at $2,419,000 after acquiring an additional 955 shares during the period. Finally, Confluence Wealth Services Inc. lifted its position in shares of Coca-Cola by 4.5% during the 3rd quarter. Confluence Wealth Services Inc. now owns 18,865 shares of the company’s stock valued at $1,356,000 after acquiring an additional 806 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Barclays dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.80.

Insider Activity at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were 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 $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were 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 in the company, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 261,870 shares of company stock worth $18,256,369. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Down 0.5 %

Shares of NYSE KO traded down $0.30 during trading on Friday, hitting $65.01. The stock had a trading volume of 12,163,094 shares, compared to its average volume of 13,086,055. The Coca-Cola Company has a 12 month low of $56.06 and a 12 month high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company has a market capitalization of $280.05 billion, a PE ratio of 26.86, a PEG ratio of 3.97 and a beta of 0.62. The firm has a fifty day moving average of $70.29 and a two-hundred day moving average of $66.32.

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. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the business posted $0.74 EPS. The business’s revenue was down .8% compared to the same quarter last year. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 2.98%. Coca-Cola’s payout ratio is currently 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.