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

CarsonAllaria Wealth Management Ltd. reduced its stake in The Coca-Cola Company (NYSE:KO) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,322 shares of the company’s stock after selling 200 shares during the period. CarsonAllaria Wealth Management Ltd.’s holdings in Coca-Cola were worth $311,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on KO. Citigroup raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Royal Bank of Canada raised their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company raised their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Insider Activity

In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of the business’s stock in a transaction dated 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 directly owns 223,330 shares in the company, valued at $14,954,176.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of the business’s stock in a transaction dated 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 directly owns 223,330 shares in the company, valued at $14,954,176.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. In the last three months, insiders have sold 356,792 shares of company stock worth $24,728,364. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 1.2 %

Shares of Coca-Cola stock traded down $0.82 during midday trading on Monday, reaching $69.62. 5,692,408 shares of the company’s stock traded hands, compared to its average volume of 13,128,767. The company has a market cap of $299.92 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The company’s 50 day simple moving average is $70.70 and its 200 day simple moving average is $65.80. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The Coca-Cola Company has a 52 week low of $54.04 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm 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%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. Equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

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 given a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 2.79%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

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.