The Coca-Cola Company (NYSE:KO) Position Lessened by First City Capital Management Inc.

First City Capital Management Inc. reduced its position in The Coca-Cola Company (NYSE:KO) by 0.7% in the 4th quarter, Holdings Channel reports. The fund owned 96,906 shares of the company’s stock after selling 729 shares during the period. Coca-Cola makes up about 3.2% of First City Capital Management Inc.’s investment portfolio, making the stock its 6th biggest position. First City Capital Management Inc.’s holdings in Coca-Cola were worth $6,033,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.97% of the stock is currently owned by insiders.

Coca-Cola Price Performance

NYSE:KO traded up $0.11 during midday trading on Friday, hitting $61.95. 3,839,669 shares of the stock were exchanged, compared to its average volume of 8,367,977. The business has a 50-day moving average price of $63.47 and a two-hundred day moving average price of $66.53. 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 company has a market capitalization of $266.87 billion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter last year, the business posted $0.74 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. Sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.13%. The ex-dividend date was Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KO. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley cut their price target 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. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Wells Fargo & Company reduced their target price on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

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.