Ridgewood Investments LLC Decreases Stock Position in Coca-Cola Co (The) (NYSE:KO)

Ridgewood Investments LLC cut its holdings in Coca-Cola Co (The) (NYSE:KO) by 5.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,439 shares of the company’s stock after selling 519 shares during the quarter. Ridgewood Investments LLC’s holdings in Coca-Cola were worth $466,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Johanson Financial Advisors Inc. raised its stake in Coca-Cola by 4.7% in the third quarter. Johanson Financial Advisors Inc. now owns 4,692 shares of the company’s stock valued at $232,000 after buying an additional 209 shares during the last quarter. M. Kraus & Co raised its stake in Coca-Cola by 4.7% in the third quarter. M. Kraus & Co now owns 4,795 shares of the company’s stock valued at $237,000 after buying an additional 214 shares during the last quarter. AlphaMark Advisors LLC increased its holdings in shares of Coca-Cola by 22.2% in the second quarter. AlphaMark Advisors LLC now owns 1,205 shares of the company’s stock valued at $54,000 after purchasing an additional 219 shares during the period. Grandfield & Dodd LLC raised its stake in shares of Coca-Cola by 0.5% in the second quarter. Grandfield & Dodd LLC now owns 44,525 shares of the company’s stock worth $1,990,000 after purchasing an additional 223 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Coca-Cola by 16.4% during the second quarter. Larson Financial Group LLC now owns 1,597 shares of the company’s stock worth $71,000 after purchasing an additional 225 shares during the period. Institutional investors own 65.86% of the company’s stock.

KO opened at $50.03 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.09 and a quick ratio of 0.96. The firm has a fifty day moving average price of $49.97 and a 200 day moving average price of $47.25. Coca-Cola Co has a 1 year low of $36.27 and a 1 year high of $60.13. The stock has a market cap of $214.90 billion, a P/E ratio of 23.60, a P/E/G ratio of 5.91 and a beta of 0.55.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 21st. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. Coca-Cola had a net margin of 26.77% and a return on equity of 41.44%. The firm had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $7.26 billion. During the same period in the previous year, the business posted $0.63 EPS. The business’s revenue was down 28.0% compared to the same quarter last year. Equities analysts expect that Coca-Cola Co will post 1.79 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Monday, November 30th. Coca-Cola’s dividend payout ratio is presently 77.73%.

A number of equities analysts have issued reports on KO shares. Morgan Stanley raised shares of Coca-Cola from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $52.00 to $54.00 in a research report on Wednesday, July 22nd. They noted that the move was a valuation call. Bank of America reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Coca-Cola in a report on Friday, July 17th. Finally, Zacks Investment Research downgraded shares of Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price objective on the stock. in a report on Tuesday, September 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $54.19.

In other Coca-Cola news, Director David B. Weinberg sold 98,905 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $48.50, for a total transaction of $4,796,892.50. Following the completion of the transaction, the director now directly owns 355,214 shares in the company, valued at $17,227,879. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert Edward Long sold 37,534 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $48.21, for a total transaction of $1,809,514.14. Following the transaction, the senior vice president now owns 82,502 shares of the company’s stock, valued at $3,977,421.42. The disclosure for this sale can be found here. Insiders have sold 836,439 shares of company stock valued at $40,380,407 over the last 90 days. 1.01% of the stock is currently owned by company insiders.

About Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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