Resources Management Corp CT ADV Sells 750 Shares of The Coca-Cola Company (NYSE:KO)

Resources Management Corp CT ADV cut its position in The Coca-Cola Company (NYSE:KOGet Rating) by 3.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,193 shares of the company’s stock after selling 750 shares during the quarter. Resources Management Corp CT ADV’s holdings in Coca-Cola were worth $1,252,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Nauset Wealth Management. LLC bought a new stake in shares of Coca-Cola in the first quarter valued at $27,000. Delos Wealth Advisors LLC raised its stake in shares of Coca-Cola by 4,770.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 487 shares of the company’s stock valued at $29,000 after buying an additional 477 shares during the period. Carl Stuart Investment Advisor Inc. bought a new stake in shares of Coca-Cola in the first quarter valued at $34,000. Hillsdale Investment Management Inc. bought a new stake in shares of Coca-Cola in the first quarter valued at $35,000. Finally, Rational Advisors LLC bought a new stake in shares of Coca-Cola in the first quarter valued at $37,000. 68.93% of the stock is currently owned by institutional investors.

Insider Activity

In other Coca-Cola news, insider Henrique Braun sold 11,318 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $64.35, for a total transaction of $728,313.30. Following the completion of the transaction, the insider now owns 22,828 shares of the company’s stock, valued at approximately $1,468,981.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, CEO James Quincey sold 32,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $64.09, for a total transaction of $2,050,880.00. Following the completion of the transaction, the chief executive officer now owns 351,737 shares of the company’s stock, valued at approximately $22,542,824.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Henrique Braun sold 11,318 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $64.35, for a total value of $728,313.30. Following the transaction, the insider now directly owns 22,828 shares of the company’s stock, valued at approximately $1,468,981.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,830 shares of company stock valued at $2,939,961. Insiders own 0.98% of the company’s stock.

Coca-Cola Price Performance

KO opened at $60.79 on Thursday. The stock has a 50-day moving average price of $63.01 and a 200-day moving average price of $62.79. The Coca-Cola Company has a 12-month low of $52.28 and a 12-month high of $67.20. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $262.89 billion, a P/E ratio of 27.51, a PEG ratio of 3.94 and a beta of 0.54.

Coca-Cola (NYSE:KOGet Rating) last released its earnings results on Tuesday, July 26th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. Coca-Cola had a return on equity of 42.13% and a net margin of 23.16%. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $10.57 billion. During the same quarter in the previous year, the company posted $0.68 EPS. Coca-Cola’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts predict that The Coca-Cola Company will post 2.46 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, September 15th. Coca-Cola’s dividend payout ratio (DPR) is presently 79.64%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KO. UBS Group lifted their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Credit Suisse Group set a $68.00 price target on Coca-Cola in a research report on Wednesday, July 20th. HSBC lifted their price target on Coca-Cola from $72.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, September 6th. Morgan Stanley reduced their price target on Coca-Cola from $76.00 to $74.00 and set an “overweight” rating for the company in a research report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. set a $70.00 price target on Coca-Cola in a research report on Tuesday, July 26th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $69.59.

About Coca-Cola

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The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-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.

See Also

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

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