Hudock Inc. Sells 662 Shares of The Coca-Cola Company (NYSE:KO)

Hudock Inc. trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,032 shares of the company’s stock after selling 662 shares during the quarter. Hudock Inc.’s holdings in Coca-Cola were worth $1,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in KO. Tidemark LLC bought a new stake in shares of Coca-Cola in the fourth quarter valued at $26,000. New Millennium Group LLC purchased a new stake in Coca-Cola during the 2nd quarter worth about $26,000. Private Wealth Management Group LLC purchased a new stake in Coca-Cola during the 4th quarter worth about $27,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola during the 1st quarter worth about $28,000. Finally, ESL Trust Services LLC purchased a new stake in Coca-Cola during the 1st quarter worth about $28,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Down 1.4 %

Shares of KO traded down $1.01 during mid-day trading on Thursday, reaching $71.55. The company had a trading volume of 9,319,984 shares, compared to its average volume of 13,091,475. The firm has a fifty day simple moving average of $67.18 and a 200-day simple moving average of $63.41. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a market cap of $308.23 billion, a price-to-earnings ratio of 28.78, a price-to-earnings-growth ratio of 4.05 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 EPS. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.71%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio is 77.60%.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 18,484 shares of the 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 completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred 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 sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The disclosure for this sale can be found here. Insiders sold 1,074,910 shares of company stock valued at $585,972,318 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup upped their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Truist Financial increased their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Morgan Stanley raised their price objective on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. BNP Paribas assumed coverage on Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Finally, Royal Bank of Canada lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $70.73.

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.