JGP Wealth Management LLC Lowers Holdings in The Coca-Cola Company (NYSE:KO)

JGP Wealth Management LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 1.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 22,626 shares of the company’s stock after selling 334 shares during the period. JGP Wealth Management LLC’s holdings in Coca-Cola were worth $1,626,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Coca-Cola by 21.5% during the 1st 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 in the last quarter. Fisher Asset Management LLC grew its position in shares of Coca-Cola by 11,127.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock worth $293,043,000 after buying an additional 4,928,441 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Coca-Cola by 30.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after buying an additional 2,964,850 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Coca-Cola during the 2nd quarter worth $188,448,000. Finally, M&G Plc bought a new stake in Coca-Cola during the first quarter valued at about $157,087,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Bank of America lifted their price target on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Citigroup lifted their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Truist Financial lifted their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.33.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,954,176.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Nancy Quan sold 37,787 shares of the 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 $14,954,176.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 42,397 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, 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. Over the last 90 days, insiders sold 376,096 shares of company stock valued at $25,982,352. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of KO traded up $0.03 during mid-day trading on Friday, hitting $69.28. The company’s stock had a trading volume of 2,633,752 shares, compared to its average volume of 13,185,672. 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 firm has a 50-day simple moving average of $70.51 and a 200 day simple moving average of $65.33. The firm has a market capitalization of $298.59 billion, a P/E ratio of 28.04, a P/E/G ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 1-year low of $52.43 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data 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 return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. Analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 78.54%.

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.