Garrison Asset Management LLC Decreases Position in The Coca-Cola Company (NYSE:KO)

Garrison Asset Management LLC lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 4.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,784 shares of the company’s stock after selling 338 shares during the period. Garrison Asset Management LLC’s holdings in Coca-Cola were worth $487,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. QRG Capital Management Inc. lifted its position in shares of Coca-Cola by 5.0% in the third quarter. QRG Capital Management Inc. now owns 375,266 shares of the company’s stock valued at $26,967,000 after acquiring an additional 17,828 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Coca-Cola by 3.0% in the third quarter. Asset Management One Co. Ltd. now owns 1,885,537 shares of the company’s stock worth $135,495,000 after buying an additional 54,592 shares in the last quarter. National Pension Service boosted its position in shares of Coca-Cola by 15.2% during the third quarter. National Pension Service now owns 7,617,098 shares of the company’s stock worth $547,365,000 after acquiring an additional 1,004,810 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in shares of Coca-Cola by 8.9% during the 3rd quarter. Intact Investment Management Inc. now owns 174,100 shares of the company’s stock valued at $12,511,000 after purchasing an additional 14,300 shares during the last quarter. Finally, Citizens National Bank Trust Department raised its stake in Coca-Cola by 0.3% during the third quarter. Citizens National Bank Trust Department now owns 80,862 shares of the company’s stock valued at $5,811,000 after purchasing an additional 235 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Wells Fargo & Company raised their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Barclays lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Bank of America raised their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Truist Financial lifted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total value of $3,981,938.22. Following the completion of the transaction, the executive vice president now directly owns 74,067 shares in the company, valued at approximately $5,074,330.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 261,870 shares of company stock worth $18,256,369. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.3 %

Shares of NYSE KO traded up $0.21 during mid-day trading on Monday, reaching $65.22. 1,329,897 shares of the company traded hands, compared to its average volume of 13,200,627. The Coca-Cola Company has a fifty-two week low of $56.06 and a fifty-two week high of $73.53. The stock has a market cap of $280.95 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 3.97 and a beta of 0.62. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company’s fifty day moving average is $70.29 and its two-hundred day moving average is $66.37.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the business posted $0.74 earnings per share. The company’s revenue was down .8% on a year-over-year basis. On average, analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.97%. Coca-Cola’s dividend payout ratio is 80.17%.

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.