The Coca-Cola Company (NYSE:KO) Shares Sold by Motley Fool Wealth Management LLC

Motley Fool Wealth Management LLC cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 6.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,368 shares of the company’s stock after selling 1,557 shares during the period. Motley Fool Wealth Management LLC’s holdings in Coca-Cola were worth $1,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new position in Coca-Cola in the second quarter valued at $26,000. Quarry LP purchased a new position in Coca-Cola in the second quarter valued at $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola during the third quarter worth about $36,000. Finally, Mount Lucas Management LP purchased a new stake in shares of Coca-Cola during the second quarter worth about $38,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO opened at $62.21 on Thursday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm has a market capitalization of $267.99 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 3.87 and a beta of 0.61. The company’s 50-day moving average is $66.57 and its two-hundred day moving average is $66.58. The Coca-Cola Company has a 1-year low of $57.47 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last posted 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. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 EPS. Analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.12%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the company’s 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 in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the subject of a number of research reports. Barclays cut their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company cut their target price on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $72.14.

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.