Tradewinds Capital Management Cuts Coca-Cola Holdings by 14.1%

Tradewinds Capital Management LLC has reduced its holdings in the Coca-Cola Company (NYSE: KO) by 14.1% during the second quarter of 2024, as reported in its latest filing with the Securities and Exchange Commission (SEC). The institutional investor now holds 976 shares of Coca-Cola, following the sale of 160 shares during the quarter, resulting in a valuation of approximately $69,000.

Several other institutional investors have also adjusted their positions in Coca-Cola recently. For instance, MorganRosel Wealth Management LLC acquired a new stake worth $25,000 in the first quarter of this year. Similarly, 1248 Management LLC and Garde Capital Inc. made new acquisitions worth $26,000 and $30,000, respectively. Notably, Mizuho Securities Co. Ltd. increased its stake by an impressive 360%, now holding 460 shares valued at $33,000. Furthermore, Ridgewood Investments LLC boosted its position by 148.4%, acquiring an additional 285 shares for a total of 477 shares worth $34,000. Currently, approximately 70.26% of Coca-Cola’s stock is owned by hedge funds and other institutional investors.

Coca-Cola’s stock performance has shown resilience, opening at $68.45 on the most recent trading day. The company has experienced a 52-week low of $60.62 and a high of $74.38. The current market capitalization stands at $294.60 billion, with a price-to-earnings (P/E) ratio of 24.27 and a price-to-earnings-growth (PEG) ratio of 3.52.

Dividend Announcement and Analyst Ratings

Coca-Cola has announced a quarterly dividend of $0.51, set to be paid on December 15, 2024. Investors on record as of December 1, 2024 will receive this payment, yielding an annualized dividend of $2.04 with a dividend yield of 3.0%. The ex-dividend date is also December 1, 2024, and the company’s payout ratio is currently 72.34%.

Several research firms have recently provided insights on Coca-Cola’s stock. The Royal Bank of Canada established a price target of $76.00 with an “outperform” rating on July 21, 2024. UBS Group revised its target from $84.00 to $80.00, maintaining a “buy” rating on September 11, 2024. Meanwhile, JPMorgan Chase & Co. increased its price target from $77.00 to $79.00 with an “overweight” rating on July 23, 2024. Overall, the consensus rating for Coca-Cola is “Buy,” with an average price target of $76.69, according to data from MarketBeat.

Insider Activity and Company Overview

In related news, insider Nikolaos Koumettis sold 37,396 shares of Coca-Cola on August 5, 2024, at an average price of $69.10, totaling approximately $2,584,063.60. Following this transaction, Koumettis retains 209,513 shares valued at around $14,477,348.30. The company’s insiders collectively hold 0.97% of its stock.

The Coca-Cola Company is a leading global beverage manufacturer, offering a wide range of non-alcoholic beverages. Its portfolio includes sparkling soft drinks, juices, coffees, teas, and plant-based beverages, as well as beverage concentrates and syrups for retail partners, including restaurants and convenience stores.

As Coca-Cola continues to navigate the market, these shifts in institutional holdings and ongoing analyst evaluations reflect the company’s significant presence in the beverage industry and its potential for growth in the future.