The Coca-Cola Company (NYSE:KO) Shares Sold by MAI Capital Management

MAI Capital Management trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 423,522 shares of the company’s stock after selling 22,301 shares during the quarter. MAI Capital Management’s holdings in Coca-Cola were worth $30,434,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in KO. Price T Rowe Associates Inc. MD boosted its stake in shares of Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after acquiring an additional 8,733,326 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Coca-Cola by 2.9% during the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after buying an additional 1,084,475 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Coca-Cola by 1.1% during the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after buying an additional 177,241 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Coca-Cola by 1.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock worth $847,468,000 after buying an additional 222,028 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in 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 worth $638,344,000 after acquiring an additional 1,417,930 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other news, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,150,619.18. This trade represents a 35.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 303,748 shares of company stock worth $20,677,431 in the last three months. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on KO shares. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Citigroup lifted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada raised their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.36.

Coca-Cola Price Performance

KO stock opened at $61.74 on Monday. 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 $265.96 billion, a P/E ratio of 25.51, a PEG ratio of 3.75 and a beta of 0.61. The business has a 50 day simple moving average of $68.63 and a 200-day simple moving average of $66.54. The Coca-Cola Company has a twelve month low of $56.70 and a twelve month 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, topping the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 earnings per share. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 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.