The Coca-Cola Company (NYSE:KO) Shares Sold by Wealth Dimensions Group Ltd.

Wealth Dimensions Group Ltd. trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.9% in the third quarter, Holdings Channel.com reports. The fund owned 7,204 shares of the company’s stock after selling 371 shares during the period. Wealth Dimensions Group Ltd.’s holdings in Coca-Cola were worth $518,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Legal & General Group Plc grew its holdings in Coca-Cola by 2.9% in the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock valued at $2,463,373,000 after purchasing an additional 1,084,475 shares during the last quarter. Truist Financial Corp grew its stake in Coca-Cola by 1.1% in the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock valued at $1,041,479,000 after acquiring an additional 177,241 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Coca-Cola by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock valued at $847,468,000 after acquiring an additional 222,028 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in Coca-Cola by 8.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 8,310,453 shares of the company’s stock worth $532,558,000 after acquiring an additional 640,402 shares during the last quarter. Finally, Bank of Montreal Can grew its position in shares of Coca-Cola by 7.5% in the second quarter. Bank of Montreal Can now owns 7,765,284 shares of the company’s stock valued at $496,202,000 after purchasing an additional 542,531 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on 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. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 160,881 shares of company stock valued at $10,693,244. Company insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the subject of several research reports. Wells Fargo & Company lifted their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays dropped their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Coca-Cola Trading Up 0.3 %

Shares of KO opened at $63.92 on Friday. The stock’s fifty day simple moving average is $67.79 and its 200 day simple moving average is $66.54. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. 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 $275.35 billion, a P/E ratio of 26.41, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61.

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 business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. On average, equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 3.04%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is currently 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.