Moors & Cabot Inc. Decreases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Moors & Cabot Inc. cut its stake in The Coca-Cola Company (NYSE:KO) by 0.5% in the second quarter, Holdings Channel.com reports. The firm owned 109,570 shares of the company’s stock after selling 523 shares during the quarter. Moors & Cabot Inc.’s holdings in Coca-Cola were worth $6,974,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KO. Tidemark LLC acquired a new stake in shares of Coca-Cola in the 4th quarter worth $26,000. New Millennium Group LLC purchased a new stake in shares of Coca-Cola in the second quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new stake in Coca-Cola during the first quarter worth about $28,000. ESL Trust Services LLC purchased a new position in Coca-Cola during the first quarter worth about $28,000. Finally, Frazier Financial Advisors LLC acquired a new position in Coca-Cola in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Insiders sold 974,715 shares of company stock worth $579,704,927 over the last 90 days. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Performance

NYSE:KO opened at $72.10 on Tuesday. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The company has a fifty day simple moving average of $68.47 and a two-hundred day simple moving average of $64.04. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The company has a market cap of $310.60 billion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 EPS. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.69%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday. Citigroup lifted their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada increased their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Truist Financial raised their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, BNP Paribas initiated coverage on shares of Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $71.07.

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.