Bedell Frazier Investment Counselling LLC Sells 2,690 Shares of The Coca-Cola Company (NYSE:KO)

Bedell Frazier Investment Counselling LLC lessened its stake in The Coca-Cola Company (NYSE:KO) by 1.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 161,017 shares of the company’s stock after selling 2,690 shares during the quarter. Coca-Cola makes up approximately 2.8% of Bedell Frazier Investment Counselling LLC’s holdings, making the stock its 9th biggest holding. Bedell Frazier Investment Counselling LLC’s holdings in Coca-Cola were worth $11,571,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. New Millennium Group LLC acquired a new stake in Coca-Cola during the second quarter worth about $26,000. Quarry LP acquired a new stake in Coca-Cola during the second quarter worth about $27,000. Hara Capital LLC acquired a new stake in Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the third quarter worth about $36,000. Finally, Mount Lucas Management LP acquired a new stake in Coca-Cola during the second quarter worth about $38,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.

Coca-Cola Trading Up 0.3 %

Coca-Cola stock opened at $63.92 on Monday. The stock has a market capitalization of $275.35 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 3.88 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53. 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 firm has a 50 day simple moving average of $67.79 and a 200-day simple moving average of $66.57.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations 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 posted $0.74 earnings per share. As a group, equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. 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 is currently 80.17%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KO shares. Barclays dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Truist Financial upped their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Morgan Stanley decreased their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Four 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.36.

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.