Soltis Investment Advisors LLC Reduces Stock Holdings in The Coca-Cola Company (NYSE:KO)

Soltis Investment Advisors LLC lowered its holdings in shares of The Coca-Cola Company (NYSE:KO) by 19.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 97,566 shares of the company’s stock after selling 23,530 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Coca-Cola were worth $7,011,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. FMR LLC boosted its position in shares of Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. Wellington Management Group LLP boosted its holdings in Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after buying an additional 4,013,996 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Coca-Cola in the 3rd quarter worth $269,382,000. Geode Capital Management LLC raised its holdings in Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after acquiring an additional 2,966,964 shares during the period. Finally, Pathway Financial Advisers LLC lifted its position in shares of Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after acquiring an additional 2,443,612 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.5 %

NYSE KO opened at $62.94 on Wednesday. The Coca-Cola Company has a 52 week low of $57.47 and a 52 week high of $73.53. The firm has a market capitalization of $271.11 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 3.80 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a fifty day moving average of $66.03 and a two-hundred day moving average of $66.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $11.61 billion. During the same period in the prior year, the firm posted $0.74 EPS. The firm’s revenue was down .8% compared to the same quarter last year. On average, analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Morgan Stanley lowered their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company decreased their price target on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, December 2nd. Finally, Barclays cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $72.14.

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.