Raab & Moskowitz Asset Management LLC Has $3 Million Holdings in The Coca-Cola Company (NYSE:KO)

Raab & Moskowitz Asset Management LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,674 shares of the company’s stock after selling 956 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Coca-Cola were worth $2,995,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of KO. MML Investors Services LLC increased its position in Coca-Cola by 1.1% in the 3rd quarter. MML Investors Services LLC now owns 667,141 shares of the company’s stock valued at $47,941,000 after acquiring an additional 6,962 shares in the last quarter. Laraway Financial Advisors Inc grew its stake in shares of Coca-Cola by 2.7% during the third quarter. Laraway Financial Advisors Inc now owns 8,699 shares of the company’s stock valued at $625,000 after purchasing an additional 228 shares during the last quarter. CTC Alternative Strategies Ltd. bought a new stake in shares of Coca-Cola during the third quarter valued at approximately $877,000. Dunhill Financial LLC raised its position in Coca-Cola by 71.8% in the 3rd quarter. Dunhill Financial LLC now owns 1,022 shares of the company’s stock worth $73,000 after purchasing an additional 427 shares during the last quarter. Finally, Bontempo Ohly Capital Mgmt LLC lifted its holdings in Coca-Cola by 0.8% during the 3rd quarter. Bontempo Ohly Capital Mgmt LLC now owns 68,447 shares of the company’s stock worth $4,919,000 after buying an additional 569 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $62.53 on Monday. The stock’s fifty day simple moving average is $66.21 and its 200 day simple moving average is $66.61. 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 company has a market capitalization of $269.37 billion, a PE ratio of 25.84, a PEG ratio of 3.80 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.

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 company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the firm posted $0.74 earnings per share. Coca-Cola’s revenue was down .8% compared to the same quarter last year. On average, 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. Stockholders 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 3.10%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Wall Street Analyst Weigh In

Several research firms have recently commented on KO. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Morgan Stanley lowered their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company cut their target price on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, December 2nd. Barclays lowered their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Truist Financial increased their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Four 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’s stock. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.14.

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.