The Coca-Cola Company (NYSE:KO) Shares Sold by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 97,536 shares of the company’s stock after selling 800 shares during the period. Birch Hill Investment Advisors LLC’s holdings in Coca-Cola were worth $7,009,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. CHICAGO TRUST Co NA grew its holdings in shares of Coca-Cola by 3.1% during the third quarter. CHICAGO TRUST Co NA now owns 30,886 shares of the company’s stock worth $2,219,000 after buying an additional 928 shares in the last quarter. Carnegie Investment Counsel grew its holdings in shares of Coca-Cola by 0.9% during the third quarter. Carnegie Investment Counsel now owns 82,488 shares of the company’s stock worth $5,927,000 after buying an additional 761 shares in the last quarter. Retirement Planning Group LLC purchased a new stake in shares of Coca-Cola during the third quarter worth $861,000. Annex Advisory Services LLC grew its holdings in shares of Coca-Cola by 11.3% during the third quarter. Annex Advisory Services LLC now owns 7,558 shares of the company’s stock worth $543,000 after buying an additional 769 shares in the last quarter. Finally, Brown Miller Wealth Management LLC purchased a new stake in shares of Coca-Cola during the third quarter worth $218,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $69.57 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The business’s 50 day moving average is $70.51 and its two-hundred day moving average is $65.43. The company has a market cap of $299.70 billion, a P/E ratio of 27.83, a P/E/G ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 12 month low of $52.43 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 EPS. On average, equities analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.485 per share. The ex-dividend date was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.79%. Coca-Cola’s payout ratio is currently 77.60%.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Bank of America upped their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. BNP Paribas started coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target on the stock. Finally, Royal Bank of Canada raised their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.33.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this link. In other news, EVP Nancy Quan sold 18,484 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $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 is available at this hyperlink. Also, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 376,096 shares of company stock worth $25,982,352 over the last 90 days. 0.97% of the stock is owned by insiders.

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.