The Coca-Cola Company (NYSE:KO) Stock Holdings Trimmed by Kings Path Partners LLC

Kings Path Partners LLC lessened its position in The Coca-Cola Company (NYSE:KO) by 15.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,149 shares of the company’s stock after selling 2,625 shares during the period. Kings Path Partners LLC’s holdings in Coca-Cola were worth $1,017,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of KO. New Millennium Group LLC bought a new stake in shares of Coca-Cola in the 2nd quarter worth $26,000. Quarry LP acquired a new position in shares of Coca-Cola in the 2nd quarter worth $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of Coca-Cola in the 1st quarter worth $28,000. ESL Trust Services LLC acquired a new position in shares of Coca-Cola in the 1st quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. grew its holdings in shares of Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after acquiring an additional 206 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In other news, CEO James Quincey sold 102,533 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,954,176.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 376,096 shares of company stock worth $25,982,352. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $69.57 on Friday. The Coca-Cola Company has a fifty-two week low of $52.43 and a fifty-two week high of $73.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The stock has a market capitalization of $299.70 billion, a P/E ratio of 27.83, a P/E/G ratio of 3.92 and a beta of 0.60. The business has a 50-day moving average of $70.51 and a two-hundred day moving average of $65.43.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted $0.78 earnings per share. On average, equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s payout ratio is presently 77.60%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KO. Truist Financial lifted their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Barclays lifted their price target on Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Friday. JPMorgan Chase & Co. lifted their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Royal Bank of Canada lifted their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.33.

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.