Investors Research Corp Sells 350 Shares of The Coca-Cola Company (NYSE:KO)

Investors Research Corp lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 3.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,573 shares of the company’s stock after selling 350 shares during the quarter. Investors Research Corp’s holdings in Coca-Cola were worth $616,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Harvest Portfolios Group Inc. purchased a new position in shares of Coca-Cola during the 3rd quarter valued at about $18,383,000. Balentine LLC lifted its holdings in shares of Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after buying an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after acquiring an additional 59,503 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after purchasing an additional 46,541 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of Coca-Cola by 4.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after acquiring an additional 21,005 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Performance

NYSE KO traded up $0.21 during mid-day trading on Thursday, reaching $63.20. 1,977,735 shares of the stock were exchanged, compared to its average volume of 13,360,831. The company has a market capitalization of $272.25 billion, a P/E ratio of 26.04, a P/E/G ratio of 3.80 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The business’s 50 day moving average is $68.09 and its 200-day moving average is $66.52.

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 the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 EPS. On average, equities research 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend on an annualized basis and a dividend yield of 3.07%. Coca-Cola’s payout ratio is 80.17%.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 42,397 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,881 shares of company stock valued at $10,693,244 over the last 90 days. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. TD Cowen boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Citigroup lifted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

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.