The Coca-Cola Company (NYSE:KO) Position Cut by Investmark Advisory Group LLC

Investmark Advisory Group LLC lessened its position in The Coca-Cola Company (NYSE:KO) by 8.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,091 shares of the company’s stock after selling 483 shares during the quarter. Investmark Advisory Group LLC’s holdings in Coca-Cola were worth $366,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in KO. New Millennium Group LLC acquired a new position in Coca-Cola during the 2nd quarter valued at about $26,000. Quarry LP acquired a new position in Coca-Cola in the second quarter valued at $27,000. Hara Capital LLC acquired a new position in shares of Coca-Cola during the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola during the 3rd quarter worth $36,000. Finally, Mount Lucas Management LP purchased a new stake in Coca-Cola during the 2nd quarter worth about $38,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

NYSE:KO opened at $63.50 on Tuesday. The firm has a market cap of $273.55 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 3.89 and a beta of 0.61. The firm’s fifty day moving average is $67.07 and its two-hundred day moving average is $66.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a one year low of $57.47 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS 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 business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. Research analysts expect that The Coca-Cola Company will post 2.85 EPS 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.06%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of a number of recent research reports. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Barclays dropped their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lowered their target price on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday. Four 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $72.14.

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.