Widmann Financial Services Inc. Has $1.93 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Widmann Financial Services Inc. lowered its stake in The Coca-Cola Company (NYSE:KO) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,919 shares of the company’s stock after selling 247 shares during the quarter. Coca-Cola makes up approximately 1.5% of Widmann Financial Services Inc.’s investment portfolio, making the stock its 19th largest position. Widmann Financial Services Inc.’s holdings in Coca-Cola were worth $1,934,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. New Millennium Group LLC acquired a new position in shares of Coca-Cola during the 2nd quarter worth about $26,000. Quarry LP bought a new position in Coca-Cola during the second quarter worth about $27,000. Hara Capital LLC acquired a new position in Coca-Cola during the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the third quarter valued at approximately $36,000. Finally, Mount Lucas Management LP acquired a new stake in shares of Coca-Cola in the second quarter valued at approximately $38,000. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the company’s 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 owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents 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 this link. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.3 %

Shares of NYSE KO opened at $64.12 on Friday. The stock’s fifty day moving average is $67.07 and its 200 day moving average is $66.56. The Coca-Cola Company has a 52 week low of $57.47 and a 52 week high of $73.53. The stock has a market capitalization of $276.22 billion, a P/E ratio of 26.50, a PEG ratio of 3.91 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share 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 during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the company posted $0.74 earnings per share. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. Sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 3.03%. Coca-Cola’s payout ratio is currently 80.17%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KO. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their price target 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. Barclays cut their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Morgan Stanley decreased their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Four 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.36.

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.