Yacktman Asset Management LP Trims Stake in The Coca-Cola Company (NYSE:KO)

Yacktman Asset Management LP trimmed its position in The Coca-Cola Company (NYSE:KO) by 10.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,313,137 shares of the company’s stock after selling 264,341 shares during the quarter. Coca-Cola makes up 1.7% of Yacktman Asset Management LP’s portfolio, making the stock its 27th biggest position. Yacktman Asset Management LP’s holdings in Coca-Cola were worth $166,222,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in KO. Jennison Associates LLC lifted its stake in shares of Coca-Cola by 3.8% during the 1st quarter. Jennison Associates LLC now owns 47,562 shares of the company’s stock worth $2,910,000 after purchasing an additional 1,746 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Coca-Cola in the 1st quarter worth $1,253,000. Callan Capital LLC grew its stake in Coca-Cola by 33.2% during the 1st quarter. Callan Capital LLC now owns 5,054 shares of the company’s stock worth $309,000 after buying an additional 1,261 shares during the last quarter. Richardson Financial Services Inc. increased its holdings in shares of Coca-Cola by 4.8% during the first quarter. Richardson Financial Services Inc. now owns 3,697 shares of the company’s stock valued at $226,000 after acquiring an additional 170 shares in the last quarter. Finally, Team Hewins LLC raised its position in shares of Coca-Cola by 1.9% in the 1st quarter. Team Hewins LLC now owns 16,741 shares of the company’s stock valued at $1,032,000 after purchasing an additional 317 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 203,748 shares of company stock worth $14,274,431 in the last ninety days. 0.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

KO has been the subject of a number of research analyst reports. Truist Financial raised their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Citigroup upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley decreased their target price on shares of 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 research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

Coca-Cola Trading Up 0.2 %

Shares of Coca-Cola stock opened at $65.11 on Tuesday. The Coca-Cola Company has a 1-year low of $56.06 and a 1-year high of $73.53. 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 stock has a market cap of $280.48 billion, a P/E ratio of 26.90, a P/E/G ratio of 3.95 and a beta of 0.61. The stock’s 50 day simple moving average is $70.18 and its 200-day simple moving average is $66.41.

Coca-Cola (NYSE:KO) last released its quarterly earnings data 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. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. Analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

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

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.