First Dallas Securities Inc. Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

First Dallas Securities Inc. decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 6.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,988 shares of the company’s stock after selling 800 shares during the period. First Dallas Securities Inc.’s holdings in Coca-Cola were worth $861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares in the last quarter. Frisch Financial Group Inc. boosted its holdings in Coca-Cola by 11.3% in the third quarter. Frisch Financial Group Inc. now owns 6,133 shares of the company’s stock worth $443,000 after acquiring an additional 625 shares in the last quarter. Prestige Wealth Management Group LLC grew its stake in shares of Coca-Cola by 3.8% during the third quarter. Prestige Wealth Management Group LLC now owns 10,813 shares of the company’s stock worth $782,000 after acquiring an additional 394 shares during the last quarter. Brophy Wealth Management LLC acquired a new position in shares of Coca-Cola during the third quarter valued at about $1,126,000. Finally, Vestcor Inc raised its position in shares of Coca-Cola by 2.3% in the 3rd quarter. Vestcor Inc now owns 80,511 shares of the company’s stock valued at $5,786,000 after purchasing an additional 1,848 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KO has been the topic of several research analyst reports. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Barclays dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Morgan Stanley reduced 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. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $72.14.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Price Performance

NYSE:KO opened at $62.63 on Tuesday. The company has a 50 day moving average price of $66.03 and a 200-day moving average price of $66.61. The Coca-Cola Company has a 1-year low of $57.47 and a 1-year high of $73.53. The firm has a market cap of $269.80 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 3.80 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business 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 company’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 3.10%. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

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.