The Coca-Cola Company (NYSE:KO) Shares Sold by Summit Wealth Partners LLC

Summit Wealth Partners LLC cut its stake in The Coca-Cola Company (NYSE:KO) by 7.6% in the third quarter, HoldingsChannel reports. The fund owned 3,331 shares of the company’s stock after selling 274 shares during the period. Summit Wealth Partners LLC’s holdings in Coca-Cola were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake 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 buying an additional 8,733,326 shares during the period. Legal & General Group Plc raised its stake in shares of Coca-Cola by 2.9% during the 2nd 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 during the period. Truist Financial Corp raised its stake in shares of Coca-Cola by 1.1% during the 2nd 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 during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake 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 during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of 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 worth $638,344,000 after buying an additional 1,417,930 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Down 0.5 %

Shares of NYSE:KO opened at $65.00 on Friday. The stock has a market cap of $280.01 billion, a P/E ratio of 26.86, a PEG ratio of 4.00 and a beta of 0.60. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 52-week low of $56.06 and a 52-week high of $73.53. The business has a fifty day moving average of $70.29 and a two-hundred day moving average of $66.26.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 EPS. On average, research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Insider Buying and Selling

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Coca-Cola news, EVP Lisa Chang sold 58,122 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,074,330.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 261,870 shares of company stock valued at $18,256,369. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the subject of several research analyst reports. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Citigroup increased their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. TD Cowen increased their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Wells Fargo & Company increased their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Morgan Stanley reduced their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

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.