The Coca-Cola Company (NYSE:KO) Shares Sold by Cedrus LLC

Cedrus LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 30.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,811 shares of the company’s stock after selling 2,071 shares during the period. Cedrus LLC’s holdings in Coca-Cola were worth $346,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in Coca-Cola in the 2nd quarter valued at $26,000. Quarry LP purchased a new stake in Coca-Cola in the 2nd quarter valued at $27,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola in the 1st quarter valued at $28,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola during the 1st quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. grew its holdings in shares of Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Morgan Stanley increased their price target on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Bank of America increased their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Citigroup increased their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Coca-Cola Price Performance

KO stock opened at $70.44 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The firm has a market capitalization of $303.45 billion, a P/E ratio of 28.18, a P/E/G ratio of 3.92 and a beta of 0.60. The business’s 50-day moving average is $70.70 and its two-hundred day moving average is $65.76. The Coca-Cola Company has a 1 year low of $53.86 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. Analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 37,787 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO James Quincey sold 42,397 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nancy Quan sold 37,787 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $66.96, for a total value of $2,530,217.52. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $14,954,176.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 356,792 shares of company stock valued at $24,728,364 in the last quarter. Corporate insiders own 0.97% of the company’s stock.

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.