The Coca-Cola Company (NYSE:KO) Shares Sold by Conning Inc.

Conning Inc. reduced its holdings in The Coca-Cola Company (NYSE:KO) by 7.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 538,606 shares of the company’s stock after selling 42,419 shares during the quarter. Conning Inc.’s holdings in Coca-Cola were worth $38,704,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Optas LLC raised its position in shares of Coca-Cola by 6.6% during the third quarter. Optas LLC now owns 7,917 shares of the company’s stock worth $569,000 after purchasing an additional 492 shares during the period. Princeton Global Asset Management LLC increased its stake in Coca-Cola by 2.8% in the 3rd quarter. Princeton Global Asset Management LLC now owns 61,075 shares of the company’s stock worth $4,389,000 after purchasing an additional 1,678 shares in the last quarter. Lmcg Investments LLC raised its holdings in Coca-Cola by 6.5% during the 3rd quarter. Lmcg Investments LLC now owns 433,801 shares of the company’s stock worth $31,173,000 after buying an additional 26,343 shares during the period. First Interstate Bank lifted its stake in Coca-Cola by 130.5% during the third quarter. First Interstate Bank now owns 12,345 shares of the company’s stock valued at $887,000 after buying an additional 6,990 shares in the last quarter. Finally, F M Investments LLC boosted its holdings in shares of Coca-Cola by 6.5% in the third quarter. F M Investments LLC now owns 515,148 shares of the company’s stock worth $37,019,000 after buying an additional 31,258 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Trading Down 0.5 %

NYSE:KO opened at $65.01 on Friday. The company has a market capitalization of $280.05 billion, a P/E ratio of 26.86, a P/E/G ratio of 3.97 and a beta of 0.62. The stock’s 50 day moving average price is $70.29 and its 200 day moving average price is $66.32. 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 52 week low of $56.06 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping 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 company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the business posted $0.74 EPS. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. On average, research analysts forecast that The Coca-Cola Company will post 2.85 EPS 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. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 2.98%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insider Activity

In related news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction that occurred 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 directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $15,968,095. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 261,870 shares of company stock valued at $18,256,369. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley reduced their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Citigroup lifted their price target on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada increased their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.80.

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.