The Coca-Cola Company (NYSE:KO) Shares Sold by Coho Partners Ltd.

Coho Partners Ltd. trimmed its stake in The Coca-Cola Company (NYSE:KO) by 25.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,129,193 shares of the company’s stock after selling 377,161 shares during the quarter. Coca-Cola makes up 3.0% of Coho Partners Ltd.’s holdings, making the stock its 19th largest holding. Coho Partners Ltd.’s holdings in Coca-Cola were worth $81,144,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in 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 worth $3,016,023,000 after purchasing an additional 8,733,326 shares during the period. Legal & General Group Plc lifted its holdings in shares of 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 in the last quarter. Truist Financial Corp lifted 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 valued at $1,041,479,000 after purchasing an additional 177,241 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Coca-Cola by 30.5% in 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 in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Trading Down 2.1 %

KO opened at $68.02 on Thursday. The Coca-Cola Company has a 1-year low of $55.10 and a 1-year high of $73.53. The stock has a market capitalization of $293.03 billion, a PE ratio of 27.21, a PEG ratio of 3.92 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The firm has a 50-day moving average price of $70.74 and a two-hundred day moving average price of $65.96.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results 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 business 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 earnings per share. Coca-Cola’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal 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 paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analysts Set New Price Targets

A number of equities research analysts have commented on KO shares. Wells Fargo & Company raised 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. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Truist Financial increased their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Bank of America boosted 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. Five 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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 stock was sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction on 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 document filed with the SEC, which is available through this link. Also, EVP Nancy Quan sold 37,787 shares of the 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 completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 356,792 shares of company stock valued at $24,728,364 over the last 90 days. 0.97% of the stock is owned by company insiders.

About Coca-Cola

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.