The Coca-Cola Company (NYSE:KO) Shares Sold by Hendershot Investments Inc.

Hendershot Investments Inc. decreased its holdings in The Coca-Cola Company (NYSE:KO) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,847 shares of the company’s stock after selling 224 shares during the period. Hendershot Investments Inc.’s holdings in Coca-Cola were worth $851,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Goldstream Capital Management Ltd acquired a new position in Coca-Cola during the 3rd quarter worth approximately $1,343,000. iA Global Asset Management Inc. grew its stake in shares of Coca-Cola by 962.2% during the third quarter. iA Global Asset Management Inc. now owns 146,073 shares of the company’s stock worth $10,497,000 after purchasing an additional 132,321 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in Coca-Cola by 22.9% in the third quarter. EP Wealth Advisors LLC now owns 120,702 shares of the company’s stock valued at $8,674,000 after buying an additional 22,515 shares during the last quarter. Insigneo Advisory Services LLC raised its stake in Coca-Cola by 12.2% in the third quarter. Insigneo Advisory Services LLC now owns 48,050 shares of the company’s stock valued at $3,453,000 after buying an additional 5,223 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its holdings in Coca-Cola by 135.6% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 154,488 shares of the company’s stock worth $11,102,000 after buying an additional 88,929 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock opened at $62.51 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The business has a 50 day simple moving average of $66.40 and a 200-day simple moving average of $66.56. The Coca-Cola Company has a 12 month low of $57.47 and a 12 month high of $73.53. The stock has a market capitalization of $269.28 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 3.78 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS 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 quarter last year, the business earned $0.74 EPS. The business’s revenue was down .8% on a year-over-year basis. Equities analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current 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 given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Analysts Set New Price Targets

KO has been the topic of a number of recent analyst reports. Barclays dropped their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Truist Financial boosted their price objective 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. Morgan Stanley dropped their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Wells Fargo & Company cut their price target on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, December 2nd. Four research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.14.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the 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 completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.97% of the stock is currently owned by insiders.

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.