The Coca-Cola Company (NYSE:KO) Position Decreased by MayTech Global Investments LLC

MayTech Global Investments LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 5.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,790 shares of the company’s stock after selling 360 shares during the period. Coca-Cola makes up about 0.1% of MayTech Global Investments LLC’s holdings, making the stock its 27th biggest position. MayTech Global Investments LLC’s holdings in Coca-Cola were worth $416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Providence Capital Advisors LLC grew its position in Coca-Cola by 0.8% in the third quarter. Providence Capital Advisors LLC now owns 44,169 shares of the company’s stock worth $3,174,000 after acquiring an additional 362 shares in the last quarter. First Commonwealth Financial Corp PA bought a new stake in Coca-Cola in the third quarter worth $206,000. Cynosure Group LLC increased its position in Coca-Cola by 46.4% during the third quarter. Cynosure Group LLC now owns 5,057 shares of the company’s stock worth $363,000 after buying an additional 1,602 shares during the last quarter. Townsquare Capital LLC raised its holdings in Coca-Cola by 5.2% during the third quarter. Townsquare Capital LLC now owns 325,878 shares of the company’s stock valued at $23,418,000 after buying an additional 16,198 shares in the last quarter. Finally, NCP Inc. lifted its position in shares of Coca-Cola by 9.2% in the third quarter. NCP Inc. now owns 3,571 shares of the company’s stock worth $257,000 after buying an additional 300 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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 stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.97% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on KO shares. Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Morgan Stanley lowered their target price on shares of 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, Wells Fargo & Company boosted their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Four investment 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.36.

Coca-Cola Stock Performance

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 PEG ratio of 3.91 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.47 and a one year high of $73.53. The business has a fifty day simple moving average of $67.34 and a 200 day simple moving average of $66.57. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

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

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.01%. Coca-Cola’s payout ratio 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.