Valley Wealth Managers Inc. Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

Valley Wealth Managers Inc. lowered its stake in The Coca-Cola Company (NYSE:KO) by 2.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 61,997 shares of the company’s stock after selling 1,307 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Coca-Cola were worth $4,455,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Apella Capital LLC raised its holdings in shares of Coca-Cola by 1.4% in the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after purchasing an additional 146 shares during the period. Investment Advisory Group LLC raised its holdings in shares of Coca-Cola by 4.5% in the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after purchasing an additional 146 shares during the period. Elwood & Goetz Wealth Advisory Group LLC raised its holdings in shares of Coca-Cola by 2.2% in the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after purchasing an additional 149 shares during the period. CCG Wealth Management LLC raised its holdings in shares of Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after purchasing an additional 149 shares during the period. Finally, Investment Partners Asset Management Inc. raised its holdings in Coca-Cola by 2.2% in the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 18.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 303,748 shares of company stock worth $20,677,431. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO traded down $0.40 during trading hours on Friday, hitting $62.15. 1,709,326 shares of the stock were exchanged, compared to its average volume of 13,254,244. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company has a market cap of $267.73 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The company’s fifty day simple moving average is $68.82 and its two-hundred day simple moving average is $66.48. The Coca-Cola Company has a 1-year low of $56.70 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion for 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 firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. On average, sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.12%. Coca-Cola’s dividend payout ratio is 80.17%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Morgan Stanley lowered their price target 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. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Truist Financial increased their price target 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. Deutsche Bank Aktiengesellschaft increased their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Four 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.