PDS Planning Inc Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

PDS Planning Inc cut its position in The Coca-Cola Company (NYSE:KO) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,453 shares of the company’s stock after selling 576 shares during the period. PDS Planning Inc’s holdings in Coca-Cola were worth $4,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in KO. New Millennium Group LLC purchased a new stake in shares of Coca-Cola during the second quarter worth $26,000. Quarry LP acquired a new position in Coca-Cola during the second quarter worth about $27,000. ESL Trust Services LLC purchased a new stake in Coca-Cola during the 1st quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the 3rd quarter valued at about $36,000. Finally, DiNuzzo Private Wealth Inc. lifted its stake in Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Morgan Stanley cut their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Bank of America upped their price target on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

Insider Activity at Coca-Cola

In other news, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total value of $3,981,938.22. Following the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,074,330.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of Coca-Cola 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 sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa Chang sold 58,122 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,074,330.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 261,870 shares of company stock valued at $18,256,369 in the last three months. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Up 0.1 %

NYSE:KO traded up $0.08 during trading hours on Monday, hitting $65.09. The company’s stock had a trading volume of 2,267,316 shares, compared to its average volume of 13,202,651. The Coca-Cola Company has a 52-week low of $56.06 and a 52-week 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 stock has a market capitalization of $280.39 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 3.97 and a beta of 0.62. The stock has a fifty day moving average of $70.29 and a 200-day moving average of $66.37.

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, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter last year, the company earned $0.74 earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

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.