CFS Investment Advisory Services LLC Has $3.09 Million Stock Position in The Coca-Cola Company (NYSE:KO)

CFS Investment Advisory Services LLC lessened its position in The Coca-Cola Company (NYSE:KO) by 50.2% in the third quarter, HoldingsChannel reports. The fund owned 43,020 shares of the company’s stock after selling 43,336 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in Coca-Cola were worth $3,091,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Coca-Cola in the 3rd quarter valued at $269,382,000. Manning & Napier Advisors LLC bought a new position in Coca-Cola during the 2nd quarter valued at $188,448,000. Pathway Financial Advisers LLC boosted its holdings in Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after acquiring an additional 2,443,612 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of Coca-Cola by 42.6% in the 2nd quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock worth $397,515,000 after acquiring an additional 1,866,348 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on KO shares. TD Cowen increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Truist Financial lifted their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Quan sold 18,484 shares of the firm’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 sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 160,881 shares of company stock valued at $10,693,244. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $63.76 on Friday. 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 stock has a market capitalization of $274.67 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 3.80 and a beta of 0.61. The Coca-Cola Company has a 52-week low of $57.47 and a 52-week high of $73.53. The stock’s 50-day simple moving average is $67.94 and its 200 day simple moving average is $66.50.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during 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%. Coca-Cola’s revenue was down .8% compared to the same quarter last year. During the same period last year, the business earned $0.74 earnings per share. Research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.04%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Coca-Cola Company 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.