The Coca-Cola Company (NYSE:KO) Shares Sold by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC lessened its stake in The Coca-Cola Company (NYSE:KO) by 5.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,083 shares of the company’s stock after selling 7,200 shares during the period. Coca-Cola accounts for about 1.1% of Patton Albertson Miller Group LLC’s holdings, making the stock its 28th biggest position. Patton Albertson Miller Group LLC’s holdings in Coca-Cola were worth $8,342,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in KO. New Millennium Group LLC acquired a new stake in shares of Coca-Cola in the 2nd quarter valued at approximately $26,000. Quarry LP acquired a new stake in Coca-Cola in the second quarter valued at $27,000. Hara Capital LLC acquired a new stake in Coca-Cola in the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the third quarter valued at $36,000. Finally, Mount Lucas Management LP acquired a new stake in Coca-Cola in the second quarter valued at $38,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.7 %

Shares of KO stock opened at $64.38 on Tuesday. The firm has a 50-day moving average price of $67.63 and a 200 day moving average price of $66.58. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The company has a market capitalization of $277.34 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 3.88 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. Research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share 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. Investors of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.01%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on KO. Barclays reduced their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Wells Fargo & Company raised their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Morgan Stanley cut their price target 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. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

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.