The Coca-Cola Company (NYSE:KO) Shares Sold by Belmont Capital LLC

Belmont Capital LLC lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 91.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,046 shares of the company’s stock after selling 21,402 shares during the quarter. Belmont Capital LLC’s holdings in Coca-Cola were worth $147,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Caprock Group LLC lifted its holdings in Coca-Cola by 17.8% in the third quarter. Caprock Group LLC now owns 57,575 shares of the company’s stock worth $4,165,000 after purchasing an additional 8,691 shares during the period. Windle Wealth LLC raised its position in shares of Coca-Cola by 1.8% during the 3rd quarter. Windle Wealth LLC now owns 105,792 shares of the company’s stock worth $7,602,000 after buying an additional 1,850 shares in the last quarter. OneAscent Wealth Management LLC acquired a new stake in shares of Coca-Cola in the 3rd quarter worth approximately $738,000. Nixon Peabody Trust Co. boosted its holdings in shares of Coca-Cola by 0.4% in the third quarter. Nixon Peabody Trust Co. now owns 191,443 shares of the company’s stock valued at $13,757,000 after acquiring an additional 778 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its stake in shares of Coca-Cola by 10.2% during the third quarter. Meeder Advisory Services Inc. now owns 67,354 shares of the company’s stock valued at $4,840,000 after acquiring an additional 6,218 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.2 %

Shares of NYSE KO opened at $61.85 on Tuesday. The business has a 50-day moving average price of $68.43 and a two-hundred day moving average price of $66.54. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $266.44 billion, a PE ratio of 25.56, a PEG ratio of 3.75 and a beta of 0.61. The Coca-Cola Company has a one year low of $56.96 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. As a group, analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 303,748 shares of company stock valued at $20,677,431 in the last three months. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of a number of research reports. Morgan Stanley decreased their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. 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. TD Cowen raised their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

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.