Private Management Group Inc. Trims Holdings in The Coca-Cola Company (NYSE:KO)

Private Management Group Inc. decreased its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,613 shares of the company’s stock after selling 170 shares during the period. Private Management Group Inc.’s holdings in Coca-Cola were worth $332,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. New Millennium Group LLC bought a new stake in Coca-Cola during the second quarter valued at $26,000. Quarry LP bought a new stake in shares of Coca-Cola during the 2nd quarter valued at about $27,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola during the first quarter worth about $28,000. DiNuzzo Private Wealth Inc. increased its position in shares of Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola in the third quarter valued at approximately $36,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

KO stock opened at $65.01 on Friday. The stock has a market capitalization of $280.05 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 3.97 and a beta of 0.62. The firm’s 50-day moving average price is $70.29 and its two-hundred day moving average price is $66.32. 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 Coca-Cola Company has a 12-month low of $56.06 and a 12-month high of $73.53.

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 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 company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the previous year, the business earned $0.74 EPS. Coca-Cola’s revenue was down .8% compared to the same quarter last year. As a group, equities analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend on an annualized basis and a dividend yield of 2.98%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Royal Bank of Canada increased their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. TD Cowen increased their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Five equities research 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 stock. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $71.80.

Insider Buying and Selling

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

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.