The Coca-Cola Company (NYSE:KO) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 5.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 160,177 shares of the company’s stock after selling 9,078 shares during the period. Coca-Cola accounts for about 1.3% of Griffin Asset Management Inc.’s holdings, making the stock its 23rd biggest holding. Griffin Asset Management Inc.’s holdings in Coca-Cola were worth $11,510,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in KO. Price T Rowe Associates Inc. MD lifted its holdings in Coca-Cola by 21.5% in 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 buying an additional 8,733,326 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Coca-Cola by 2.9% in the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after acquiring an additional 1,084,475 shares in the last quarter. Truist Financial Corp lifted its stake in shares of Coca-Cola by 1.1% in the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after acquiring an additional 177,241 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Coca-Cola by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after purchasing an additional 2,964,850 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Coca-Cola by 15.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock valued at $638,344,000 after purchasing an additional 1,417,930 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on KO shares. JPMorgan Chase & Co. raised their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. BNP Paribas began coverage on Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. Wells Fargo & Company increased their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Truist Financial boosted their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada raised their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.33.

Coca-Cola Stock Up 0.0 %

Shares of Coca-Cola stock opened at $70.36 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 12-month low of $52.84 and a 12-month high of $73.53. The firm has a market capitalization of $303.11 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The stock’s fifty day moving average is $70.60 and its 200-day moving average is $65.59.

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

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.76%. The ex-dividend date was Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling

In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,398,603.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 18,482 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 356,792 shares of company stock valued at $24,728,364. Corporate insiders own 0.97% of the company’s stock.

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.