Ashton Thomas Private Wealth LLC Decreases Holdings in The Coca-Cola Company (NYSE:KO)

Ashton Thomas Private Wealth LLC decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,720 shares of the company’s stock after selling 1,671 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Coca-Cola were worth $5,369,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of KO. New Millennium Group LLC purchased a new stake in Coca-Cola in the 2nd quarter valued at approximately $26,000. Quarry LP acquired a new stake in shares of Coca-Cola during the 2nd quarter worth $27,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola during the 1st quarter worth $28,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola during the 3rd quarter worth $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola during the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

NYSE KO opened at $63.60 on Tuesday. The Coca-Cola Company has a 12 month low of $56.60 and a 12 month high of $73.53. 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 firm has a market capitalization of $273.98 billion, a PE ratio of 26.19, a P/E/G ratio of 3.88 and a beta of 0.61. The company’s 50 day simple moving average is $69.37 and its 200 day simple moving average is $66.52.

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

Coca-Cola Announces Dividend

The company also recently disclosed 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. This represents a $1.94 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is 80.17%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Royal Bank of Canada upped their price objective on 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 shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Morgan Stanley decreased their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company upped their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.80.

Insider Buying and Selling

In related news, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Lisa Chang sold 40,334 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the sale, the executive vice president now directly owns 74,067 shares in the company, valued at approximately $5,150,619.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, 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. In the last 90 days, insiders sold 203,748 shares of company stock valued at $14,274,431. Company insiders own 0.97% of the company’s stock.

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.