Coastal Investment Advisors Inc. Has $1.89 Million Stock Position in The Coca-Cola Company (NYSE:KO)
Coastal Investment Advisors Inc. reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 15.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,379 shares of the company’s stock after selling 6,313 shares during the quarter. Coastal Investment Advisors Inc.’s holdings in The Coca-Cola were worth $1,885,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of KO. Your Advocates Ltd. LLP raised its stake in shares of The Coca-Cola by 62.3% in the third quarter. Your Advocates Ltd. LLP now owns 534 shares of the company’s stock worth $26,000 after purchasing an additional 205 shares during the last quarter. Demars Financial Group LLC purchased a new stake in shares of The Coca-Cola in the second quarter worth approximately $27,000. Holloway Wealth Management LLC purchased a new stake in shares of The Coca-Cola in the third quarter worth approximately $37,000. Baron Financial Group LLC purchased a new stake in shares of The Coca-Cola in the third quarter worth approximately $38,000. Finally, Dimension Capital Management LLC purchased a new stake in shares of The Coca-Cola in the third quarter worth approximately $58,000. 60.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of The Coca-Cola stock traded up $0.05 during trading hours on Wednesday, reaching $50.16. The company had a trading volume of 18,860,889 shares, compared to its average volume of 28,033,625. The Coca-Cola Company has a one year low of $36.27 and a one year high of $60.13. The business has a fifty day simple moving average of $52.96 and a 200 day simple moving average of $49.91. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.13 and a quick ratio of 1.01. The firm has a market cap of $215.56 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 6.74 and a beta of 0.57.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Monday, November 30th. The Coca-Cola’s payout ratio is currently 77.73%.
In related news, Director David B. Weinberg sold 100,000 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $52.65, for a total value of $5,265,000.00. Following the sale, the director now owns 355,214 shares in the company, valued at $18,702,017.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David B. Weinberg sold 200,000 shares of the stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $50.12, for a total value of $10,024,000.00. Following the completion of the sale, the director now owns 355,214 shares in the company, valued at approximately $17,803,325.68. The disclosure for this sale can be found here. Insiders sold 400,000 shares of company stock valued at $20,264,000 over the last ninety days. Corporate insiders own 1.01% of the company’s stock.
Several analysts have recently commented on KO shares. Zacks Investment Research downgraded The Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price objective for the company. in a research note on Tuesday, September 22nd. Royal Bank of Canada lowered The Coca-Cola from an “outperform” rating to a “sector perform” rating and set a $55.00 target price for the company. in a report on Monday, January 4th. Morgan Stanley upped their target price on The Coca-Cola from $57.00 to $59.00 in a report on Thursday, December 17th. Deutsche Bank Aktiengesellschaft lowered The Coca-Cola from a “buy” rating to a “hold” rating and reduced their target price for the company from $57.00 to $55.00 in a report on Tuesday, January 5th. Finally, JPMorgan Chase & Co. lowered The Coca-Cola from an “overweight” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Thursday, January 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $54.41.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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