The Coca-Cola Company (NYSE:KO) Stock Holdings Reduced by Financial Counselors Inc.

Financial Counselors Inc. cut its position in shares of The Coca-Cola Company (NYSE:KO) by 2.1% in the third quarter, Holdings Channel reports. The firm owned 306,306 shares of the company’s stock after selling 6,522 shares during the period. Financial Counselors Inc.’s holdings in Coca-Cola were worth $22,011,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. FMR LLC increased its position in Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after buying an additional 11,206,995 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Coca-Cola by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after acquiring an additional 1,084,475 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Coca-Cola by 1.1% during the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after acquiring an additional 177,241 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Coca-Cola by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock valued at $847,468,000 after acquiring an additional 222,028 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Coca-Cola by 8.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 8,310,453 shares of the company’s stock valued at $532,558,000 after acquiring an additional 640,402 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Barclays decreased their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Morgan Stanley dropped their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. 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. Finally, Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Four equities 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.36.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the business’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 completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $64.43 on Thursday. The stock has a market capitalization of $277.55 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 3.91 and a beta of 0.61. The firm’s 50-day moving average price is $67.34 and its two-hundred day moving average price is $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. 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 released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period in the prior year, the company earned $0.74 EPS. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend payout ratio is 80.17%.

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.