New Age Alpha Advisors LLC Sells 69,335 Shares of CocaCola Company (The) (NYSE:KO)

Key Points

• New Age Alpha Advisors LLC reduced its stake in CocaCola by 31.3%, selling 69,335 shares and now holds 151,940 shares, which represent 0.5% of its portfolio.
• Analysts have varied target prices on CocaCola, with JPMorgan Chase raising the target to $79.00 and UBS lowering it to $84.00, indicating a generally positive outlook with a consensus rating of "Buy."
• CocaCola announced a quarterly dividend of $0.51 per share, with an annual yield of 3.0%, to be paid on October 1st, rewarding shareholders of record on September 15th.

New Age Alpha Advisors LLC cut its position in CocaCola Company (The) (NYSE:KO - Free Report) by 31.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,940 shares of the company's stock after selling 69,335 shares during the quarter. CocaCola comprises about 0.5% of New Age Alpha Advisors LLC's portfolio, making the stock its 29th biggest holding. New Age Alpha Advisors LLC's holdings in CocaCola were worth $10,882,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sage Financial Management Group Inc. bought a new stake in CocaCola in the 1st quarter valued at $216,000. Voleon Capital Management LP bought a new stake in shares of CocaCola during the 4th quarter valued at $2,513,000. Cornerstone Wealth Management LLC lifted its position in shares of CocaCola by 3.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock valued at $8,686,000 after acquiring an additional 3,920 shares during the period. Clark Capital Management Group Inc. lifted its position in shares of CocaCola by 31.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock valued at $52,851,000 after acquiring an additional 204,681 shares during the period. Finally, Investors Research Corp lifted its position in shares of CocaCola by 21.5% during the 1st quarter. Investors Research Corp now owns 10,419 shares of the company's stock valued at $746,000 after acquiring an additional 1,846 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. UBS Group cut their target price on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Morgan Stanley reiterated an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. Finally, BNP Paribas reiterated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $77.21.

CocaCola Price Performance

Shares of KO opened at $68.95 on Tuesday. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The business has a 50-day simple moving average of $70.27 and a two-hundred day simple moving average of $69.73. 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 stock has a market cap of $296.74 billion, a PE ratio of 24.45, a PEG ratio of 3.58 and a beta of 0.44.

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

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's dividend payout ratio is presently 72.34%.

Insiders Place Their Bets

In other CocaCola news, CEO James Quincey sold 266,403 shares of the company's stock in a transaction dated Friday, May 30th. The stock was 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 of the company's stock, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the transaction, the executive vice president directly owned 187,716 shares of the company's stock, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock valued at $29,923,985 in the last 90 days. Corporate insiders own 0.97% of the company's stock.

About CocaCola

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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