Horan Capital Advisors LLC. Lowers Holdings in The Coca-Cola Company (NYSE:KO)

Horan Capital Advisors LLC. reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 21.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,230 shares of the company’s stock after selling 1,432 shares during the quarter. Horan Capital Advisors LLC.’s holdings in Coca-Cola were worth $308,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Merit Financial Group LLC raised its holdings in Coca-Cola by 14.7% in the 4th quarter. Merit Financial Group LLC now owns 72,491 shares of the company’s stock valued at $4,272,000 after acquiring an additional 9,297 shares during the last quarter. Bordeaux Wealth Advisors LLC increased its holdings in shares of Coca-Cola by 5.0% during the 4th quarter. Bordeaux Wealth Advisors LLC now owns 7,368 shares of the company’s stock worth $434,000 after buying an additional 354 shares during the last quarter. Coulter & Justus Financial Services LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $550,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Coca-Cola by 22.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 73,881 shares of the company’s stock worth $4,354,000 after buying an additional 13,566 shares during the last quarter. Finally, Smart Money Group LLC increased its holdings in shares of Coca-Cola by 21.6% during the 4th quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock worth $291,000 after buying an additional 877 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 323,107 shares of company stock valued at $19,657,742. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KO. Evercore ISI raised their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays increased their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group increased their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Citigroup increased their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $68.27.

Coca-Cola Stock Performance

NYSE KO traded up $0.18 during trading on Friday, reaching $62.17. The company’s stock had a trading volume of 11,628,675 shares, compared to its average volume of 13,782,690. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 1.04. The firm has a market cap of $268.03 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 3.55 and a beta of 0.57. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.25. The business’s fifty day moving average price is $60.24 and its 200-day moving average price is $59.12.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period in the previous year, the business posted $0.68 earnings per share. Coca-Cola’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, analysts anticipate that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.12%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Coca-Cola Company 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.