Financial Strategies Group Inc. Sells 522 Shares of The Coca-Cola Company (NYSE:KO)

Financial Strategies Group Inc. decreased its stake in shares of The Coca-Cola Company (NYSE:KO) by 10.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,354 shares of the company’s stock after selling 522 shares during the period. Financial Strategies Group Inc.’s holdings in Coca-Cola were worth $306,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new position in shares of Coca-Cola in the second quarter worth approximately $26,000. Quarry LP bought a new position in Coca-Cola in the second quarter worth approximately $27,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola during the 1st quarter worth $28,000. Hara Capital LLC bought a new stake in shares of Coca-Cola during the 3rd quarter valued at $35,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola in the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.1 %

Shares of KO opened at $63.66 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock has a market capitalization of $274.23 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 3.96 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $56.06 and a 1 year high of $73.53. The business’s 50 day simple moving average is $69.90 and its 200-day simple moving average is $66.43.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. Coca-Cola’s revenue was down .8% on a year-over-year basis. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.05%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 203,748 shares of company stock valued at $14,274,431 over the last ninety days. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on KO shares. TD Cowen lifted their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Barclays cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Citigroup raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

About Coca-Cola

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.