The Coca-Cola Company (NYSE:KO) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,233 shares of the company’s stock after selling 392 shares during the period. Foster & Motley Inc.’s holdings in Coca-Cola were worth $448,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Harvest Portfolios Group Inc. acquired a new position in Coca-Cola in the third quarter valued at approximately $18,383,000. Balentine LLC lifted its position in shares of Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after buying an additional 13,685 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Coca-Cola by 4.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock valued at $32,895,000 after buying an additional 21,005 shares in the last quarter. Swedbank AB purchased a new position in shares of Coca-Cola in the 1st quarter valued at $102,604,000. Finally, BDF Gestion acquired a new stake in Coca-Cola during the 2nd quarter worth $7,421,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $63.66 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a 50-day moving average price of $69.90 and a 200 day moving average price of $66.43. The Coca-Cola Company has a 52 week low of $56.06 and a 52 week high of $73.53. The company has a market cap of $274.23 billion, a P/E ratio of 26.31, a PEG ratio of 3.96 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. Research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.05%. Coca-Cola’s payout ratio is 80.17%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays cut their price target 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. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Citigroup raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were 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 directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were 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 directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 203,748 shares of company stock valued at $14,274,431. 0.97% of the stock is owned by 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.