The Coca-Cola Company (NYSE:KO) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 2.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 29,353,080 shares of the company’s stock after selling 823,495 shares during the period. Coca-Cola makes up approximately 0.5% of UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s portfolio, making the stock its 25th biggest position. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Coca-Cola were worth $2,109,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of KO. Public Sector Pension Investment Board grew its stake in shares of Coca-Cola by 17.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 140,909 shares of the company’s stock valued at $10,126,000 after buying an additional 20,600 shares during the period. Fiduciary Trust Co boosted its holdings in Coca-Cola by 0.8% in the third quarter. Fiduciary Trust Co now owns 203,298 shares of the company’s stock valued at $14,609,000 after acquiring an additional 1,514 shares during the last quarter. Boussard & Gavaudan Investment Management LLP purchased a new stake in Coca-Cola during the third quarter valued at about $17,684,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Coca-Cola by 19.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,194,849 shares of the company’s stock worth $157,722,000 after purchasing an additional 364,526 shares during the period. Finally, Providence Capital Advisors LLC increased its position in Coca-Cola by 0.8% during the 3rd quarter. Providence Capital Advisors LLC now owns 44,169 shares of the company’s stock worth $3,174,000 after purchasing an additional 362 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.2 %

Shares of NYSE:KO opened at $64.43 on Thursday. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53. 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 firm has a market cap of $277.55 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 3.91 and a beta of 0.61. The company has a fifty day simple moving average of $67.34 and a 200 day simple moving average of $66.57.

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, beating analysts’ consensus estimates of $0.74 by $0.03. The business 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 company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 EPS. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.01%. Coca-Cola’s payout ratio is 80.17%.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Truist Financial upped their price target 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. Barclays cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company upped their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $72.36.

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.