Douglas Lane & Associates LLC Sells 36,559 Shares of The Coca-Cola Company (NYSE:KO)

Douglas Lane & Associates LLC cut its holdings in The Coca-Cola Company (NYSE:KO) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,043,137 shares of the company’s stock after selling 36,559 shares during the period. Douglas Lane & Associates LLC’s holdings in Coca-Cola were worth $74,960,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. New Millennium Group LLC purchased a new stake in shares of Coca-Cola in the second quarter worth $26,000. Quarry LP purchased a new position in Coca-Cola during the second quarter valued at $27,000. Redmont Wealth Advisors LLC purchased a new position in Coca-Cola during the first quarter valued at $28,000. ESL Trust Services LLC purchased a new position in Coca-Cola during the first quarter valued at $28,000. Finally, DiNuzzo Private Wealth Inc. grew its stake in Coca-Cola by 65.0% during the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after acquiring an additional 206 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Up 0.5 %

Shares of Coca-Cola stock traded up $0.32 during trading on Friday, hitting $69.57. The stock had a trading volume of 8,786,318 shares, compared to its average volume of 13,216,886. The Coca-Cola Company has a 12 month low of $52.43 and a 12 month high of $73.53. The firm’s fifty day simple moving average is $70.51 and its 200-day simple moving average is $65.43. The stock has a market cap of $299.70 billion, a PE ratio of 27.83, a PEG ratio of 3.92 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

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

Coca-Cola Dividend Announcement

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

Insider Activity

In other news, EVP Nancy Quan sold 37,787 shares of Coca-Cola stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $66.96, for a total value of $2,530,217.52. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,954,176.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 37,787 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $66.96, for a total value of $2,530,217.52. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. 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 sold 376,096 shares of company stock worth $25,982,352. 0.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

KO has been the subject of several research analyst reports. Royal Bank of Canada raised their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Citigroup raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. 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 note on Monday, September 16th. Truist Financial lifted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. 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, the company has an average rating of “Moderate Buy” and a consensus price target of $71.33.

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.