The Coca-Cola Company (NYSE:KO) Shares Sold by MTM Investment Management LLC

MTM Investment Management LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 2.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 55,132 shares of the company’s stock after selling 1,538 shares during the period. Coca-Cola accounts for approximately 1.5% of MTM Investment Management LLC’s holdings, making the stock its 14th biggest holding. MTM Investment Management LLC’s holdings in Coca-Cola were worth $3,869,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of KO. Apella Capital LLC raised its holdings in shares of Coca-Cola by 1.4% in the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after buying an additional 146 shares during the last quarter. Investment Advisory Group LLC lifted its position in shares of Coca-Cola by 4.5% during the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after purchasing an additional 146 shares in the last quarter. Elwood & Goetz Wealth Advisory Group LLC grew its stake in shares of Coca-Cola by 2.2% during the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after purchasing an additional 149 shares during the last quarter. CCG Wealth Management LLC increased its holdings in shares of Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after purchasing an additional 149 shares in the last quarter. Finally, Investment Partners Asset Management Inc. lifted its holdings in Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after buying an additional 150 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KO. Truist Financial upped 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. Wells Fargo & Company raised their target price 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. Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. 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 research note on Thursday, October 24th. Finally, Royal Bank of Canada increased their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $72.36.

Coca-Cola Price Performance

NYSE KO opened at $62.58 on Wednesday. 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 stock has a market cap of $269.58 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 3.75 and a beta of 0.61. The business has a 50 day simple moving average of $68.25 and a 200 day simple moving average of $66.55. The Coca-Cola Company has a 52-week low of $56.96 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 earnings per share. Analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.10%. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Insider Transactions at Coca-Cola

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 value of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. The trade was a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Quincey sold 42,397 shares of Coca-Cola stock in a transaction on Monday, August 26th. The shares were sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. The trade was a 8.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 160,881 shares of company stock valued at $10,693,244 over the last three months. Company insiders own 0.97% of the company’s stock.

About Coca-Cola

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.