Baillie Gifford & Co. Sells 7,386 Shares of The Coca-Cola Company (NYSE:KO)

Baillie Gifford & Co. lowered its position in The Coca-Cola Company (NYSE:KO) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 849,131 shares of the company’s stock after selling 7,386 shares during the period. Baillie Gifford & Co.’s holdings in Coca-Cola were worth $61,019,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position 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 valued at $3,016,023,000 after buying an additional 8,733,326 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Coca-Cola during the 2nd quarter valued at about $188,448,000. M&G Plc bought a new position in shares of Coca-Cola in the 1st quarter valued at about $157,087,000. Pathway Financial Advisers LLC raised its stake in shares of Coca-Cola by 7,006.8% during the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after buying an additional 2,443,612 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in Coca-Cola by 42.6% in the second quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock valued at $397,515,000 after buying an additional 1,866,348 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 303,748 shares of company stock worth $20,677,431. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of a number of analyst reports. Citigroup increased their price target 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 target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada boosted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Truist Financial increased their target price 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. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Five 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Coca-Cola Trading Down 0.2 %

NYSE:KO opened at $63.21 on Wednesday. The company has a market cap of $272.30 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 3.85 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $56.60 and a twelve month high of $73.53. The business has a 50 day moving average price of $69.37 and a two-hundred day moving average price of $66.52. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

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

Coca-Cola Dividend Announcement

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 paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 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.