Forbes J M & Co. LLP Trims Stock Holdings in The Coca-Cola Company (NYSE:KO)

Forbes J M & Co. LLP reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 235,908 shares of the company’s stock after selling 1,728 shares during the period. Coca-Cola accounts for about 1.7% of Forbes J M & Co. LLP’s investment portfolio, making the stock its 19th largest position. Forbes J M & Co. LLP’s holdings in Coca-Cola were worth $16,952,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB bought a new position in Coca-Cola during the first quarter worth $102,604,000. BDF Gestion acquired a new stake in shares of Coca-Cola during the second quarter worth $7,421,000. Duality Advisers LP increased its position in shares of Coca-Cola by 191.1% in the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock worth $6,843,000 after acquiring an additional 73,434 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Coca-Cola by 0.7% in the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock valued at $179,578,000 after purchasing an additional 20,048 shares in the last quarter. Finally, Guinness Asset Management LTD boosted its position in Coca-Cola by 4.6% during the 3rd quarter. Guinness Asset Management LTD now owns 3,062,037 shares of the company’s stock worth $220,011,000 after acquiring an additional 134,046 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KO has been the subject of a number of research reports. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. boosted their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Citigroup upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company increased their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,398,603.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO James Quincey sold 42,397 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This represents a 0.00 % 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 18,482 shares of Coca-Cola stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,398,603.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 319,005 shares of company stock valued at $22,198,147 in the last quarter. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.4 %

Shares of KO traded up $0.27 during trading hours on Monday, reaching $67.19. 1,933,408 shares of the stock traded hands, compared to its average volume of 13,198,680. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The company has a market cap of $289.45 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 3.91 and a beta of 0.60. The stock has a fifty day simple moving average of $70.66 and a 200 day simple moving average of $66.11. The Coca-Cola Company has a 52 week low of $55.42 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the previous year, the business posted $0.74 EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Coca-Cola 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.