Weaver Capital Management LLC Sells 7,141 Shares of The Coca-Cola Company (NYSE:KO)

Weaver Capital Management LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 21.3% in the 3rd quarter, Holdings Channel reports. The firm owned 26,442 shares of the company’s stock after selling 7,141 shares during the quarter. Weaver Capital Management LLC’s holdings in Coca-Cola were worth $1,900,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Dupont Capital Management Corp bought a new position in Coca-Cola in the third quarter worth approximately $14,843,000. GAM Holding AG lifted its holdings in shares of Coca-Cola by 1.0% in the 3rd quarter. GAM Holding AG now owns 63,497 shares of the company’s stock worth $4,563,000 after buying an additional 619 shares during the period. Saxony Capital Management LLC bought a new position in shares of Coca-Cola during the 3rd quarter worth $219,000. Blossom Wealth Management raised its holdings in shares of Coca-Cola by 3.3% in the third quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock valued at $351,000 after acquiring an additional 155 shares in the last quarter. Finally, Private Advisor Group LLC lifted its stake in Coca-Cola by 1.1% in the third quarter. Private Advisor Group LLC now owns 335,938 shares of the company’s stock worth $24,141,000 after acquiring an additional 3,664 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was 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 of the company’s stock, valued at approximately $14,954,176.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of the company’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 completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,954,176.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Quincey sold 42,397 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 356,792 shares of company stock worth $24,728,364 over the last quarter. 0.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. TD Cowen boosted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Citigroup increased their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Morgan Stanley boosted their price target on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Finally, Barclays lifted their target price on Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $69.45 on Wednesday. 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 Coca-Cola Company has a twelve month low of $54.04 and a twelve month high of $73.53. The company’s 50 day moving average is $70.75 and its 200 day moving average is $65.94. The company has a market cap of $299.19 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 earnings per share. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.79%. Coca-Cola’s payout ratio is 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.