Rehmann Capital Advisory Group Sells 774 Shares of The Coca-Cola Company (NYSE:KO)

Rehmann Capital Advisory Group lessened its stake in The Coca-Cola Company (NYSE:KO) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,412 shares of the company’s stock after selling 774 shares during the period. Rehmann Capital Advisory Group’s holdings in Coca-Cola were worth $2,185,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KO. FMR LLC raised its stake in shares of Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares during the last quarter. Wellington Management Group LLP raised its position in Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Coca-Cola in the 3rd quarter worth approximately $269,382,000. Geode Capital Management LLC lifted its holdings in 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 buying an additional 2,966,964 shares during the period. Finally, Pathway Financial Advisers LLC grew its position in shares of Coca-Cola by 7,006.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after buying an additional 2,443,612 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.5 %

NYSE:KO opened at $62.94 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company’s 50 day moving average is $66.03 and its two-hundred day moving average is $66.61. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The company has a market cap of $271.11 billion, a PE ratio of 26.01, a P/E/G ratio of 3.80 and a beta of 0.61.

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

Coca-Cola Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 3.08%. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction 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 $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Barclays decreased their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Truist Financial lifted 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, Wells Fargo & Company lowered their target price on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, December 2nd. Four investment 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’s stock. According to MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $72.14.

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.