The Coca-Cola Company (NYSE:KO) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 60.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 242,100 shares of the company’s stock after selling 373,851 shares during the period. Intech Investment Management LLC’s holdings in Coca-Cola were worth $17,397,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Coca-Cola by 21.5% in the 1st 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 period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Coca-Cola during the third quarter worth approximately $269,382,000. Manning & Napier Advisors LLC purchased a new stake in Coca-Cola during the second quarter worth approximately $188,448,000. Pathway Financial Advisers LLC raised its stake in shares of Coca-Cola by 7,006.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after acquiring an additional 2,443,612 shares during the period. Finally, Raymond James & Associates lifted its holdings in shares of Coca-Cola by 42.6% during the 2nd quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock valued at $397,515,000 after acquiring an additional 1,866,348 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 160,881 shares of company stock worth $10,693,244 in the last 90 days. 0.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on KO. TD Cowen increased their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Citigroup raised their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Barclays decreased 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. 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, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $72.36.

Coca-Cola Stock Performance

KO stock opened at $63.01 on Thursday. The firm has a market cap of $271.43 billion, a P/E ratio of 26.04, a P/E/G ratio of 3.80 and a beta of 0.61. The stock’s 50 day simple moving average is $68.09 and its 200 day simple moving average is $66.52. 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 12-month low of $57.33 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The business 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%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 EPS. As a group, equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business 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. This represents a $1.94 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

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.