Paradigm Financial Advisors LLC cut its stake in Coca-Cola Co. (NYSE:KO) by 8.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,491 shares of the company’s stock after selling 5,230 shares during the period. Coca-Cola comprises approximately 1.4% of Paradigm Financial Advisors LLC’s investment portfolio, making the stock its 25th largest position. Paradigm Financial Advisors LLC’s holdings in Coca-Cola were worth $2,348,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of KO. BNP Paribas Arbitrage SA boosted its position in Coca-Cola by 19.7% in the second quarter. BNP Paribas Arbitrage SA now owns 2,099,270 shares of the company’s stock valued at $95,160,000 after buying an additional 345,810 shares in the last quarter. CHURCHILL MANAGEMENT Corp boosted its stake in Coca-Cola by 10.3% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 346,940 shares of the company’s stock worth $15,727,000 after buying an additional 32,457 shares during the period. Shell Asset Management Co. boosted its stake in Coca-Cola by 7.8% in the second quarter. Shell Asset Management Co. now owns 1,071,177 shares of the company’s stock worth $48,556,000 after buying an additional 77,824 shares during the period. Capstone Asset Management Co. boosted its stake in Coca-Cola by 0.4% in the second quarter. Capstone Asset Management Co. now owns 673,917 shares of the company’s stock worth $30,549,000 after buying an additional 2,488 shares during the period. Finally, CIBC World Markets Inc. boosted its stake in Coca-Cola by 0.9% in the second quarter. CIBC World Markets Inc. now owns 256,382 shares of the company’s stock worth $11,622,000 after buying an additional 2,346 shares during the period. Hedge funds and other institutional investors own 63.66% of the company’s stock.
Shares of Coca-Cola Co. (NYSE:KO) traded up 1.00% during midday trading on Friday, hitting $41.53. The stock had a trading volume of 7,402,652 shares. The firm has a market cap of $179.12 billion, a price-to-earnings ratio of 25.18 and a beta of 0.68. The firm’s 50 day moving average price is $41.80 and its 200 day moving average price is $43.55. Coca-Cola Co. has a 52-week low of $40.63 and a 52-week high of $47.13.
Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 32.47% and a net margin of 16.99%. The firm had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.47 billion. During the same quarter last year, the company posted $0.51 earnings per share. The business’s revenue was down 6.9% on a year-over-year basis. On average, equities research analysts expect that Coca-Cola Co. will post $1.91 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.40 dividend on an annualized basis and a yield of 3.37%. Coca-Cola’s payout ratio is currently 84.85%.
A number of analysts recently commented on KO shares. Vetr cut Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $47.05 price objective for the company. in a research report on Monday, August 15th. SunTrust Banks Inc. reiterated a “buy” rating on shares of Coca-Cola in a research report on Sunday, July 31st. Citigroup Inc. reiterated a “buy” rating and set a $50.00 price objective on shares of Coca-Cola in a research report on Monday, September 19th. RBC Capital Markets set a $49.00 price objective on Coca-Cola and gave the company a “buy” rating in a research report on Thursday, October 13th. Finally, Zacks Investment Research upgraded Coca-Cola from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Coca-Cola presently has an average rating of “Hold” and an average price target of $46.90.
In related news, VP Kathy N. Waller sold 36,342 shares of the firm’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $42.06, for a total value of $1,528,544.52. Following the completion of the sale, the vice president now owns 104,345 shares in the company, valued at $4,388,750.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.54% of the stock is currently owned by corporate insiders.
Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.