Bogart Wealth LLC Sells 6,012 Shares of The Coca-Cola Company (NYSE:KO)

Bogart Wealth LLC cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 6.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 89,277 shares of the company’s stock after selling 6,012 shares during the period. Bogart Wealth LLC’s holdings in Coca-Cola were worth $6,415,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KO. Swedbank AB purchased a new stake in shares of Coca-Cola during the first quarter valued at about $102,604,000. BDF Gestion acquired a new stake in Coca-Cola in the second quarter valued at approximately $7,421,000. Duality Advisers LP grew its holdings in Coca-Cola by 191.1% in the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock worth $6,843,000 after purchasing an additional 73,434 shares during the last quarter. TD Asset Management Inc grew its holdings in Coca-Cola by 0.7% in the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock worth $179,578,000 after purchasing an additional 20,048 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its position in shares of Coca-Cola by 11.6% during the first quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock worth $14,013,000 after purchasing an additional 23,500 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the business’s 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 sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 356,792 shares of company stock worth $24,728,364 over the last three months. 0.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on KO. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Morgan Stanley cut their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday. Bank of America lifted their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Wells Fargo & Company upped their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $71.87.

Coca-Cola Stock Performance

NYSE:KO traded down $0.98 during trading hours on Thursday, reaching $67.03. The company had a trading volume of 6,229,233 shares, compared to its average volume of 13,208,321. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a 1-year low of $55.10 and a 1-year high of $73.53. The business’s 50 day moving average price is $70.74 and its 200-day moving average price is $65.96. The firm has a market cap of $288.76 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 earnings per share. Research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is currently 77.60%.

Coca-Cola 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.