The Coca-Cola Company (NYSE:KO) Shares Sold by Asset Advisors Investment Management LLC

Asset Advisors Investment Management LLC lowered its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 247,504 shares of the company’s stock after selling 2,298 shares during the period. Coca-Cola accounts for 1.8% of Asset Advisors Investment Management LLC’s investment portfolio, making the stock its 20th largest holding. Asset Advisors Investment Management LLC’s holdings in Coca-Cola were worth $17,786,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. New Millennium Group LLC acquired a new stake in shares of Coca-Cola in the second quarter worth approximately $26,000. Quarry LP acquired a new stake in Coca-Cola during the 2nd quarter valued at approximately $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola during the 3rd quarter valued at approximately $36,000. Finally, Mount Lucas Management LP bought a new position in Coca-Cola in the second quarter worth about $38,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Up 1.9 %

Shares of NYSE KO opened at $63.84 on Friday. The firm has a 50 day moving average price of $65.55 and a two-hundred day moving average price of $66.57. The Coca-Cola Company has a 52-week low of $57.47 and a 52-week high of $73.53. The stock has a market cap of $275.01 billion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 3.81 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

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 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 analyst estimates of $11.61 billion. During the same period in the prior year, the firm 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 analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.04%. Coca-Cola’s payout ratio is 80.17%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on KO shares. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Wells Fargo & Company decreased their price target on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, December 2nd. Morgan Stanley reduced their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $70.00 in a report on Thursday. Finally, Truist Financial upped their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $72.50.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.