Cedrus LLC Decreases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Cedrus LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 30.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,811 shares of the company’s stock after selling 2,071 shares during the quarter. Cedrus LLC’s holdings in Coca-Cola were worth $346,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of KO. Price T Rowe Associates Inc. MD raised its position in shares of Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares during the last quarter. Legal & General Group Plc increased its stake in Coca-Cola by 2.9% during the 2nd 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 in the last quarter. Truist Financial Corp raised its holdings in shares of Coca-Cola by 1.1% in the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after buying an additional 177,241 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Coca-Cola by 30.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after buying an additional 2,964,850 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Coca-Cola by 15.7% during the first quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock valued at $638,344,000 after buying an additional 1,417,930 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Coca-Cola

In other news, 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 transaction of $2,530,217.52. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,954,176.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related 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 value of $2,530,217.52. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Insiders sold a total of 356,792 shares of company stock valued at $24,728,364 in the last three months. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Trading Up 0.8 %

Shares of NYSE:KO opened at $70.44 on Friday. The Coca-Cola Company has a 12-month low of $53.86 and a 12-month high of $73.53. The company has a market capitalization of $303.45 billion, a PE ratio of 28.18, a PEG ratio of 3.92 and a beta of 0.60. The business has a 50 day moving average of $70.70 and a two-hundred day moving average of $65.76. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

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

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 77.60%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company upped their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Citigroup upped their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley upped their target price on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

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.