Yacktman Asset Management LP Sells 264,341 Shares of The Coca-Cola Company (NYSE:KO)

Yacktman Asset Management LP decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 10.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,313,137 shares of the company’s stock after selling 264,341 shares during the period. Coca-Cola makes up about 1.7% of Yacktman Asset Management LP’s holdings, making the stock its 27th largest holding. Yacktman Asset Management LP owned 0.05% of Coca-Cola worth $166,222,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. New Millennium Group LLC bought a new position in shares of Coca-Cola during the second quarter valued at about $26,000. Quarry LP purchased a new stake in Coca-Cola during the 2nd quarter valued at about $27,000. ESL Trust Services LLC bought a new position in Coca-Cola during the 1st quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola in the 3rd quarter worth approximately $36,000. Finally, DiNuzzo Private Wealth Inc. lifted its position in Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on KO shares. Royal Bank of Canada raised their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. 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. TD Cowen raised their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Bank of America increased their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.80.

Insider Buying and Selling

In other news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 102,533 shares of the business’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 transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 203,748 shares of company stock worth $14,274,431. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.2 %

Shares of NYSE:KO opened at $65.11 on Tuesday. The Coca-Cola Company has a 12-month low of $56.06 and a 12-month high of $73.53. The company has a market cap of $280.48 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 3.95 and a beta of 0.61. The stock has a 50 day moving average of $70.18 and a 200 day moving average of $66.41. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

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 $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

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.