GLOBALT Investments LLC GA Has $8.13 Million Holdings in The Coca-Cola Company (NYSE:KO)

GLOBALT Investments LLC GA trimmed its position in The Coca-Cola Company (NYSE:KO) by 3.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 113,102 shares of the company’s stock after selling 4,186 shares during the period. GLOBALT Investments LLC GA’s holdings in Coca-Cola were worth $8,127,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KO. Richard C. Young & CO. LTD. grew its position in shares of Coca-Cola by 9.0% during the 3rd quarter. Richard C. Young & CO. LTD. now owns 158,900 shares of the company’s stock valued at $11,419,000 after acquiring an additional 13,110 shares during the period. Quest Partners LLC boosted its holdings in Coca-Cola by 87.4% in the 3rd quarter. Quest Partners LLC now owns 60,799 shares of the company’s stock worth $4,369,000 after buying an additional 28,358 shares during the period. Aljian Capital Management LLC bought a new position in Coca-Cola in the 3rd quarter worth approximately $221,000. Claro Advisors LLC boosted its holdings in Coca-Cola by 1.4% in the 3rd quarter. Claro Advisors LLC now owns 25,246 shares of the company’s stock worth $1,814,000 after buying an additional 345 shares during the period. Finally, Concord Asset Management LLC VA boosted its holdings in Coca-Cola by 9.7% in the 3rd quarter. Concord Asset Management LLC VA now owns 59,189 shares of the company’s stock worth $4,253,000 after buying an additional 5,234 shares during the period. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Truist Financial raised their price objective 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. Citigroup raised their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Wells Fargo & Company increased their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Barclays lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Four research 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Price Performance

Shares of NYSE KO opened at $61.74 on Monday. The stock has a market capitalization of $265.96 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 3.75 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $56.70 and a 12 month high of $73.53. The firm’s 50 day simple moving average is $68.63 and its 200-day simple moving average is $66.54. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

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

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm’s 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 owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This trade represents a 18.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $15,968,095. This trade represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 303,748 shares of company stock valued at $20,677,431 over the last three months. 0.97% of the stock is currently owned by company insiders.

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.