Cahaba Wealth Management Inc. Reduces Holdings in The Coca-Cola Company (NYSE:KO)

Cahaba Wealth Management Inc. lessened its holdings in The Coca-Cola Company (NYSE:KO) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,935 shares of the company’s stock after selling 224 shares during the period. Cahaba Wealth Management Inc.’s holdings in Coca-Cola were worth $1,145,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Bancorp Inc ME increased its position in Coca-Cola by 23.5% during the third quarter. First Bancorp Inc ME now owns 8,801 shares of the company’s stock worth $632,000 after buying an additional 1,677 shares in the last quarter. Meridiem Investment Management Ltd. acquired a new stake in shares of Coca-Cola during the third quarter valued at $155,000. Mitsubishi UFJ Asset Management UK Ltd. purchased a new stake in Coca-Cola during the 3rd quarter worth about $1,581,000. ST Germain D J Co. Inc. raised its stake in Coca-Cola by 2.4% in the 3rd quarter. ST Germain D J Co. Inc. now owns 21,666 shares of the company’s stock valued at $1,557,000 after purchasing an additional 500 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in Coca-Cola by 4.2% in the 3rd quarter. Raymond James & Associates now owns 6,510,503 shares of the company’s stock valued at $467,845,000 after purchasing an additional 265,172 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on KO shares. BNP Paribas started coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price on the stock. Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup raised their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Wells Fargo & Company upped their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Barclays raised their target price on shares of Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. Over the last quarter, insiders sold 356,792 shares of company stock valued at $24,728,364. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Performance

KO traded up $0.54 during trading on Friday, reaching $70.44. 15,087,519 shares of the company were exchanged, compared to its average volume of 13,165,565. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a market cap of $303.45 billion, a P/E ratio of 28.18, a PEG ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 52 week low of $53.86 and a 52 week high of $73.53. The firm has a 50 day moving average of $70.70 and a 200 day moving average of $65.72.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 2.75%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

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.