Baldwin Investment Management LLC Sells 250 Shares of The Coca-Cola Company (NYSE:KO)

Baldwin Investment Management LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,335 shares of the company’s stock after selling 250 shares during the quarter. Baldwin Investment Management LLC’s holdings in Coca-Cola were worth $671,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. New Millennium Group LLC purchased a new position in shares of Coca-Cola in the 2nd quarter valued at $26,000. Quarry LP bought a new stake in Coca-Cola during the second quarter valued at about $27,000. Hara Capital LLC purchased a new position in Coca-Cola in the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola in the third quarter valued at about $36,000. Finally, Mount Lucas Management LP bought a new position in Coca-Cola in the second quarter worth about $38,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.2 %

Shares of NYSE:KO opened at $64.43 on Thursday. The firm has a market capitalization of $277.55 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 3.91 and a beta of 0.61. The business’s 50 day moving average price is $67.34 and its 200-day moving average price is $66.57. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the business earned $0.74 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share 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. Stockholders 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 annualized dividend and a dividend yield of 3.01%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on KO shares. Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Barclays lowered their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.36.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

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.