Tradewinds Capital Sells Shares in Coca-Cola, Investors Shift Strategies

Tradewinds Capital Management LLC has reduced its holdings in the Coca-Cola Company (NYSE: KO) by 14.1% during the second quarter of 2024. According to a recent filing with the Securities and Exchange Commission (SEC), the institutional investor now holds 976 shares after selling 160 shares during this period. The value of Tradewinds’ remaining stake in Coca-Cola is approximately $69,000.

This adjustment aligns with a broader trend among institutional investors as several have altered their positions in Coca-Cola recently. Notably, MorganRosel Wealth Management LLC initiated a new position valued at $25,000 in the first quarter. Similarly, 1248 Management LLC and Garde Capital Inc. also acquired new positions worth $26,000 and $30,000, respectively. Mizuho Securities Co. Ltd. significantly boosted its stake by 360%, now owning 460 shares worth $33,000. Ridgewood Investments LLC increased its holdings by 148.4%, now controlling 477 shares valued at $34,000. Collectively, hedge funds and institutional investors own approximately 70.26% of Coca-Cola’s stock.

Coca-Cola Stock Performance and Dividends

As of the most recent trading session, Coca-Cola shares opened at $68.45. The stock has experienced a 52-week low of $60.62 and a high of $74.38. The company’s 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. Coca-Cola’s debt-to-equity ratio is currently at 1.49.

In addition to its stock performance, Coca-Cola announced a quarterly dividend of $0.51, payable on December 15, 2024. Investors of record on December 1 will receive this dividend, which translates to an annualized amount of $2.04 and a dividend yield of 3.0%. The company’s payout ratio currently sits at 72.34%.

Analysts’ Ratings and Insider Activity

Several research firms have provided insights into Coca-Cola’s stock, with varying price targets. The Royal Bank of Canada has set a price objective of $76.00 and rated the stock as “outperform.” In contrast, UBS Group adjusted its target from $84.00 to $80.00, maintaining a “buy” rating. JPMorgan Chase & Co. raised its price objective from $77.00 to $79.00, rating the stock as “overweight.” Weiss Ratings reaffirmed a “buy (B-)” rating on October 8, while Wells Fargo & Company lowered its target from $78.00 to $75.00.

Currently, one research analyst has assigned a “Strong Buy” rating to Coca-Cola, while fourteen others have provided a “Buy” rating. MarketBeat reports that the consensus rating for the company is “Buy,” with a consensus price target of $76.69.

In related news, insider Nikolaos Koumettis sold 37,396 shares of the company on August 5, 2024. The shares were sold 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. Corporate insiders currently own 0.97% of Coca-Cola’s stock.

Coca-Cola, a leading beverage company, is engaged in manufacturing and marketing a variety of non-alcoholic beverages globally, including soft drinks, juices, and plant-based drinks. The company also produces beverage concentrates and syrups for retail customers.

This latest shift in investor strategy and stock performance highlights the dynamic nature of institutional investment in Coca-Cola as it navigates market trends and maintains its robust position in the beverage sector.