The Coca-Cola Company (NYSE:KO) Shares Sold by Jamison Private Wealth Management Inc.

Jamison Private Wealth Management Inc. lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 0.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 143,109 shares of the company’s stock after selling 237 shares during the quarter. Coca-Cola comprises about 1.6% of Jamison Private Wealth Management Inc.’s portfolio, making the stock its 17th largest position. Jamison Private Wealth Management Inc.’s holdings in Coca-Cola were worth $10,284,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Swedbank AB purchased a new stake in Coca-Cola in the first quarter valued at approximately $102,604,000. BDF Gestion purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at $7,421,000. Duality Advisers LP increased its stake in shares of Coca-Cola by 191.1% in the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock worth $6,843,000 after acquiring an additional 73,434 shares during the period. TD Asset Management Inc increased its stake in shares of Coca-Cola by 0.7% in the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock worth $179,578,000 after acquiring an additional 20,048 shares during the period. Finally, New Mexico Educational Retirement Board raised its holdings in shares of Coca-Cola by 11.6% during the first quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock worth $14,013,000 after purchasing an additional 23,500 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on KO. Truist Financial lifted their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Bank of America increased their target price 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. Five equities research 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.33.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $70.36 on Wednesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a 1 year low of $52.84 and a 1 year high of $73.53. The firm has a market capitalization of $303.11 billion, a PE ratio of 28.14, a P/E/G ratio of 3.92 and a beta of 0.60. The business’s 50 day moving average price is $70.60 and its 200-day moving average price is $65.59.

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

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.485 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.76%. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 356,792 shares of company stock worth $24,728,364. Insiders own 0.97% of the company’s stock.

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.