Northstar Advisory Group LLC Sells 1,500 Shares of The Coca-Cola Company (NYSE:KO)

Northstar Advisory Group LLC lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 15.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,352 shares of the company’s stock after selling 1,500 shares during the quarter. Northstar Advisory Group LLC’s holdings in Coca-Cola were worth $598,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Pallas Capital Advisors LLC increased its holdings in Coca-Cola by 4.3% during the first quarter. Pallas Capital Advisors LLC now owns 143,382 shares of the company’s stock worth $10,269,000 after buying an additional 5,891 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Coca-Cola by 37.5% in the first quarter. Farther Finance Advisors LLC now owns 54,967 shares of the company’s stock valued at $3,950,000 after acquiring an additional 14,980 shares during the last quarter. City Holding Co. grew its position in shares of Coca-Cola by 1.5% in the 1st quarter. City Holding Co. now owns 97,170 shares of the company’s stock valued at $6,958,000 after acquiring an additional 1,445 shares during the period. Portside Wealth Group LLC increased its stake in shares of Coca-Cola by 6.0% during the 1st quarter. Portside Wealth Group LLC now owns 42,812 shares of the company’s stock worth $3,066,000 after purchasing an additional 2,412 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC raised its holdings in shares of Coca-Cola by 16.1% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 14,152 shares of the company’s stock valued at $1,021,000 after purchasing an additional 1,963 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the sale, the chief financial officer now directly owns 205,511 shares of the company’s stock, valued at $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Henrique Braun sold 25,277 shares of Coca-Cola stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the transaction, the chief operating officer now owns 52,466 shares in the company, valued at approximately $3,749,745.02. This represents a 32.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 440,664 shares of company stock worth $31,730,532. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Performance

NYSE KO opened at $71.37 on Monday. The firm has a 50-day moving average price of $71.39 and a two-hundred day moving average price of $67.63. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a market capitalization of $307.20 billion, a P/E ratio of 28.89, a P/E/G ratio of 3.79 and a beta of 0.46. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio is currently 81.60%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, February 13th. Evercore ISI lifted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Cfra Research upgraded Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lifted their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Finally, Morgan Stanley upped their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $75.81.

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.