Tradewinds Capital Management Lowers Coca-Cola Holdings by 14.1%

Tradewinds Capital Management LLC has reduced its stake in the Coca-Cola Company (NYSE: KO) by 14.1% during the second quarter of 2024, as disclosed in its latest filing with the Securities and Exchange Commission (SEC). Following the sale of 160 shares, Tradewinds now holds 976 shares valued at approximately $69,000.

Other institutional investors have also adjusted their holdings in Coca-Cola. For instance, MorganRosel Wealth Management LLC acquired a new position worth $25,000 in the first quarter, while 1248 Management LLC and Garde Capital Inc. invested $26,000 and $30,000, respectively. Notably, Mizuho Securities Co. Ltd. increased its stake by an impressive 360.0%, acquiring an additional 360 shares and bringing their total to 460 shares valued at $33,000. Similarly, Ridgewood Investments LLC boosted its holdings by 148.4%, owning 477 shares worth $34,000 after purchasing 285 additional shares. Currently, institutional investors hold 70.26% of Coca-Cola’s stock.

Coca-Cola’s Financial Performance

On the trading front, Coca-Cola shares opened at $68.45 on Friday, with the stock experiencing a 52-week range of $60.62 to $74.38. Key financial indicators include a market capitalization of $294.60 billion, a price-to-earnings (PE) ratio of 24.27, and a price-to-earnings-growth (PEG) ratio of 3.52. The company has a quick ratio of 0.98 and a current ratio of 1.21, alongside a debt-to-equity ratio of 1.49.

Coca-Cola has announced a quarterly dividend of $0.51 per share, set to be paid on December 15, 2024. Investors on record as of December 1, 2024, will receive this dividend, representing an annualized distribution of $2.04 and a dividend yield of 3.0%. The company’s payout ratio currently stands at 72.34%.

Market Analyst Insights

Several financial analysts have recently provided insights on Coca-Cola’s stock performance. Royal Bank of Canada set a price target of $76.00, recommending an “outperform” rating. In contrast, UBS Group adjusted its target from $84.00 to $80.00, maintaining a “buy” rating. Meanwhile, JPMorgan Chase & Co. raised its target from $77.00 to $79.00, also rating the stock as “overweight.” Weiss Ratings reaffirmed a “buy (B-)” rating, while Wells Fargo & Company lowered its price target from $78.00 to $75.00, maintaining an “overweight” rating.

Currently, one analyst has assigned a “Strong Buy” rating to Coca-Cola, while fourteen others have rated it as a “Buy.” Data from MarketBeat indicates a consensus rating of “Buy” with a price target averaging $76.69.

In related news, insider activity has seen Nikolaos Koumettis, a company executive, sell 37,396 shares on August 5, 2024, at an average price of $69.10, totaling $2,584,063.60. Following this transaction, Koumettis retained 209,513 shares valued at about $14,477,348.30, marking a 15.15% reduction in his position. Corporate insiders collectively own 0.97% of Coca-Cola’s stock.

The Coca-Cola Company remains a leading beverage manufacturer, specializing in a wide array of non-alcoholic drinks, including sparkling soft drinks, juices, and plant-based beverages, along with beverage concentrates and syrups. As it continues to adapt in a competitive market, the company’s financial maneuvers and institutional support reflect ongoing confidence in its business model and growth prospects.