Capital Investment Counsel Inc Sells 6,715 Shares of The Coca-Cola Company (NYSE:KO)

Capital Investment Counsel Inc decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 5.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 122,655 shares of the company’s stock after selling 6,715 shares during the period. Coca-Cola makes up about 1.3% of Capital Investment Counsel Inc’s investment portfolio, making the stock its 14th largest position. Capital Investment Counsel Inc’s holdings in Coca-Cola were worth $8,814,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Swedbank AB purchased a new stake in Coca-Cola in the first quarter worth $102,604,000. BDF Gestion purchased a new position in Coca-Cola in the 2nd quarter worth about $7,421,000. Duality Advisers LP lifted its holdings in Coca-Cola by 191.1% during the 1st quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock valued at $6,843,000 after buying an additional 73,434 shares in the last quarter. TD Asset Management Inc boosted its position in Coca-Cola by 0.7% in the 1st quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock valued at $179,578,000 after buying an additional 20,048 shares during the period. Finally, New Mexico Educational Retirement Board grew its stake in Coca-Cola by 11.6% in the 1st quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock worth $14,013,000 after acquiring an additional 23,500 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,074,330.17. The trade was a 0.00 % decrease in their ownership of the stock. 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. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KO. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Citigroup upped their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays upped their price objective on shares of Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Coca-Cola Stock Performance

Shares of KO opened at $68.02 on Thursday. The Coca-Cola Company has a 12 month low of $55.10 and a 12 month high of $73.53. The stock has a fifty day moving average price of $70.74 and a 200-day moving average price of $65.96. 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 firm has a market cap of $293.03 billion, a PE ratio of 27.21, a P/E/G ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results 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 analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 dividend on an annualized basis and a yield of 2.85%. Coca-Cola’s payout ratio is 77.60%.

Coca-Cola Company 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.