Greenwich Wealth Management LLC Sells 448 Shares of The Coca-Cola Company (NYSE:KO)

Greenwich Wealth Management LLC reduced its holdings in shares of The Coca-Cola Company (NYSE:KO) by 10.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,757 shares of the company’s stock after selling 448 shares during the period. Greenwich Wealth Management LLC’s holdings in Coca-Cola were worth $270,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after acquiring an additional 8,733,326 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock valued at $2,463,373,000 after buying an additional 1,084,475 shares during the last quarter. Truist Financial Corp grew its stake in shares of Coca-Cola by 1.1% in the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock valued at $1,041,479,000 after buying an additional 177,241 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Coca-Cola by 30.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after acquiring an additional 2,964,850 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Coca-Cola by 15.7% in the first quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock valued at $638,344,000 after acquiring an additional 1,417,930 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 261,870 shares of company stock valued at $18,256,369 in the last 90 days. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Performance

NYSE:KO opened at $65.01 on Friday. The Coca-Cola Company has a twelve month low of $56.06 and a twelve month high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The stock’s 50-day simple moving average is $70.29 and its 200 day simple moving average is $66.32. The firm has a market capitalization of $280.05 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 3.97 and a beta of 0.62.

Coca-Cola (NYSE:KO) last announced 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 analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. On average, analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued 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 dividend yield of 2.98%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KO. Morgan Stanley decreased their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. TD Cowen increased their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Barclays reduced their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Five 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $71.80.

Coca-Cola Company 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.