Rise Advisors LLC Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

Rise Advisors LLC decreased its position in The Coca-Cola Company (NYSE:KO) by 5.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,306 shares of the company’s stock after selling 456 shares during the quarter. Rise Advisors LLC’s holdings in Coca-Cola were worth $455,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of KO. Quarry LP bought a new position in shares of Coca-Cola in the second quarter worth approximately $27,000. Hara Capital LLC bought a new stake in Coca-Cola in the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola in the third quarter valued at about $36,000. Mount Lucas Management LP bought a new position in shares of Coca-Cola during the second quarter valued at about $38,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola during the third quarter worth about $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of a number of research analyst reports. Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays dropped 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. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Wells Fargo & Company cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.27.

Coca-Cola Stock Up 0.2 %

Shares of NYSE KO traded up $0.12 during trading on Tuesday, reaching $60.93. The company had a trading volume of 7,550,455 shares, compared to its average volume of 12,164,476. The Coca-Cola Company has a 12-month low of $57.93 and a 12-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 business’s 50-day moving average is $63.25 and its 200 day moving average is $66.57. The stock has a market cap of $262.47 billion, a PE ratio of 25.18, a P/E/G ratio of 3.83 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (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 business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the previous year, the company earned $0.74 earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities 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 was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

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.