Nicholas Hoffman & Company LLC. Sells 4,632 Shares of CocaCola Company (The) (NYSE:KO)

Key Points

• Nicholas Hoffman & Company LLC has reduced its stake in CocaCola by 2.4% in the first quarter, now holding 186,976 shares valued at approximately $13.39 million, making it the company's 17th biggest position.
• CocaCola recently reported $0.87 earnings per share for the quarter, surpassing analysts' expectations of $0.83, and its revenue increased by 2.5% year-over-year.
• The company announced a quarterly dividend of $0.51 per share, yielding 3.0%, to be paid on October 1st to investors of record on September 15th.

Nicholas Hoffman & Company LLC. trimmed its position in CocaCola Company (The) (NYSE:KO - Free Report) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 186,976 shares of the company's stock after selling 4,632 shares during the quarter. CocaCola accounts for 0.4% of Nicholas Hoffman & Company LLC.'s portfolio, making the stock its 17th largest position. Nicholas Hoffman & Company LLC.'s holdings in CocaCola were worth $13,391,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. New Republic Capital LLC boosted its stake in CocaCola by 1.6% in the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company's stock valued at $625,000 after purchasing an additional 139 shares during the period. Alteri Wealth LLC boosted its stake in CocaCola by 2.1% in the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company's stock valued at $492,000 after purchasing an additional 140 shares during the period. Deseret Mutual Benefit Administrators boosted its stake in CocaCola by 0.7% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock valued at $1,439,000 after purchasing an additional 143 shares during the period. MBA Advisors LLC boosted its stake in CocaCola by 1.2% in the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock valued at $891,000 after purchasing an additional 143 shares during the period. Finally, BXM Wealth LLC boosted its stake in CocaCola by 4.3% in the 1st quarter. BXM Wealth LLC now owns 3,532 shares of the company's stock valued at $253,000 after purchasing an additional 144 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO James Quincey sold 266,403 shares of the 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 sale, the chief executive officer owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction dated 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 sale, the insider directly owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. UBS Group reduced their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. BNP Paribas restated an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, 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. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $77.21.

CocaCola Trading Down 0.2%

Shares of KO stock traded down $0.11 on Friday, hitting $70.32. The company had a trading volume of 9,229,863 shares, compared to its average volume of 14,864,419. The firm has a market cap of $302.63 billion, a P/E ratio of 24.94, a P/E/G ratio of 3.67 and a beta of 0.44. The stock's 50-day moving average is $70.13 and its two-hundred day moving average is $69.83. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38.

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

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a $0.51 dividend. 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 is presently 72.34%.

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.