Fernwood Investment Management LLC Sells 975 Shares of The Coca-Cola Company (NYSE:KO)

Fernwood Investment Management LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 16.9% in the third quarter, Holdings Channel.com reports. The fund owned 4,798 shares of the company’s stock after selling 975 shares during the quarter. Fernwood Investment Management LLC’s holdings in Coca-Cola were worth $345,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of KO. New Millennium Group LLC purchased a new position in shares of Coca-Cola during the 2nd quarter valued at $26,000. Quarry LP bought a new stake in Coca-Cola during the second quarter valued at $27,000. ESL Trust Services LLC bought a new stake in Coca-Cola during the first quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola during the third quarter worth about $36,000. Finally, DiNuzzo Private Wealth Inc. raised its holdings in shares of Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after acquiring an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Royal Bank of Canada lifted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $71.80.

Insider Activity at Coca-Cola

In related news, EVP Lisa Chang sold 58,122 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,074,330.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Lisa Chang sold 58,122 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,074,330.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the company’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 transaction 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 261,870 shares of company stock valued at $18,256,369 in the last three months. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 0.5 %

Coca-Cola stock traded down $0.30 during mid-day trading on Friday, reaching $65.01. 12,163,094 shares of the company traded hands, compared to its average volume of 13,086,055. 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 Coca-Cola Company has a 52-week low of $56.06 and a 52-week high of $73.53. The firm has a market capitalization of $280.05 billion, a price-to-earnings ratio of 26.86, a P/E/G ratio of 3.97 and a beta of 0.62. The firm’s 50 day moving average price is $70.29 and its 200 day moving average price is $66.32.

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, beating the consensus estimate 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 analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the company earned $0.74 earnings per share. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 2.98%. Coca-Cola’s payout ratio is 80.17%.

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.