Fernwood Investment Management LLC Has $345,000 Stake in The Coca-Cola Company (NYSE:KO)

Fernwood Investment Management LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 16.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,798 shares of the company’s stock after selling 975 shares during the period. Fernwood Investment Management LLC’s holdings in Coca-Cola were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New Millennium Group LLC bought a new stake in shares of Coca-Cola during the second quarter worth about $26,000. Quarry LP bought a new stake in Coca-Cola during the 2nd quarter worth approximately $27,000. ESL Trust Services LLC acquired a new position in Coca-Cola in the 1st quarter valued at approximately $28,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola during the third quarter valued at $36,000. Finally, DiNuzzo Private Wealth Inc. lifted its holdings in shares of Coca-Cola by 65.0% during the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares during the period. 70.26% of the stock is owned by institutional investors.

Insider Transactions at Coca-Cola

In related news, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total value of $3,981,938.22. Following the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,074,330.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO James Quincey sold 102,533 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total value of $3,981,938.22. Following the completion of the sale, the executive vice president now owns 74,067 shares in the company, valued at $5,074,330.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 261,870 shares of company stock worth $18,256,369 in the last 90 days. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 0.5 %

Coca-Cola stock traded down $0.30 during mid-day trading on Friday, reaching $65.01. The stock had a trading volume of 12,163,094 shares, compared to its average volume of 13,086,055. The firm has a market capitalization of $280.05 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 3.97 and a beta of 0.62. The Coca-Cola Company has a fifty-two week low of $56.06 and a fifty-two week high of $73.53. The stock’s 50-day simple moving average is $70.29 and its 200-day simple moving average is $66.32. 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 posted 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. The company 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 firm’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 EPS. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.98%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Barclays lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Morgan Stanley reduced their target price 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 raised their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Bank of America upped their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company 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 given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $71.80.

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.