Navellier & Associates Inc. Reduces Holdings in The Coca-Cola Company (NYSE:KO)

Navellier & Associates Inc. lessened its holdings in The Coca-Cola Company (NYSE:KO) by 19.8% during the 3rd quarter, Holdings Channel reports. The firm owned 21,593 shares of the company’s stock after selling 5,334 shares during the quarter. Navellier & Associates Inc.’s holdings in Coca-Cola were worth $1,552,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. EP Wealth Advisors LLC increased its holdings in shares of Coca-Cola by 3.9% during the 1st quarter. EP Wealth Advisors LLC now owns 96,155 shares of the company’s stock worth $5,883,000 after buying an additional 3,616 shares during the last quarter. Capital Research Global Investors grew its position in Coca-Cola by 3.7% during the first quarter. Capital Research Global Investors now owns 3,936,003 shares of the company’s stock valued at $240,805,000 after acquiring an additional 139,541 shares during the period. Canada Pension Plan Investment Board increased its stake in Coca-Cola by 15.7% during the first quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock worth $638,344,000 after acquiring an additional 1,417,930 shares during the last quarter. Stonebridge Capital Advisors LLC raised its holdings in shares of Coca-Cola by 4.1% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 275,473 shares of the company’s stock worth $16,853,000 after purchasing an additional 10,937 shares during the period. Finally, Truvestments Capital LLC lifted its stake in shares of Coca-Cola by 365.5% in the 1st quarter. Truvestments Capital LLC now owns 38,793 shares of the company’s stock valued at $2,373,000 after purchasing an additional 30,459 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction 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 approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 160,881 shares of company stock worth $10,693,244. Company insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. TD Cowen raised their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Wells Fargo & Company lifted their target price 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. Morgan Stanley lowered their price target 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 raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.36.

Coca-Cola Stock Performance

NYSE:KO opened at $63.19 on Thursday. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The firm has a market cap of $272.21 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 3.80 and a beta of 0.61. The company has a 50-day moving average of $68.09 and a 200-day moving average of $66.52. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 earnings per share. Analysts forecast 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. Investors of record on Friday, November 29th will be paid a $0.485 dividend. 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 3.07%. Coca-Cola’s dividend payout ratio is currently 80.17%.

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.