Independent Advisor Alliance Reduces Holdings in CocaCola Company (The) (NYSE:KO)

Key Points

• Independent Advisor Alliance reduced its holdings in CocaCola by 1.5%, now owning 414,525 shares valued at approximately $29.7 million, making it the 17th largest holding in their investment portfolio.
• Several institutional investors, including Mizuho Securities who increased their stake by 360%, indicate a dynamic shift in investment positions surrounding CocaCola in the first quarter.
• CocaCola's recent earnings report showed an EPS of $0.87, surpassing expectations, while declaring a quarterly dividend of $0.51 per share scheduled for October 1st.

Independent Advisor Alliance trimmed its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 414,525 shares of the company's stock after selling 6,147 shares during the quarter. CocaCola comprises about 1.0% of Independent Advisor Alliance's investment portfolio, making the stock its 17th biggest holding. Independent Advisor Alliance's holdings in CocaCola were worth $29,688,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new stake in CocaCola in the first quarter worth $25,000. Garde Capital Inc. purchased a new stake in shares of CocaCola during the first quarter valued at $30,000. Mizuho Securities Co. Ltd. boosted its stake in shares of CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after purchasing an additional 360 shares during the period. Ridgewood Investments LLC lifted its stake in CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after acquiring an additional 285 shares during the period. Finally, REAP Financial Group LLC lifted its stake in CocaCola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after acquiring an additional 208 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. BNP Paribas reissued an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. UBS Group cut their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price objective on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. Finally, Cfra Research upgraded CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $77.21.

CocaCola Price Performance

Shares of NYSE:KO opened at $70.32 on Monday. The company has a market cap of $302.63 billion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 3.66 and a beta of 0.44. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The company's fifty day moving average is $70.13 and its two-hundred day moving average is $69.95.

CocaCola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. During the same period in the prior year, the business posted $0.84 earnings per share. The business's quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. CocaCola's dividend payout ratio (DPR) is presently 72.34%.

Insider Activity at CocaCola

In related news, CEO James Quincey sold 266,403 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer owned 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, the insider owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

CocaCola Company 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.

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