The Coca-Cola Company (NYSE:KO) Shares Sold by Marietta Wealth Management LLC

Marietta Wealth Management LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 13.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,226 shares of the company’s stock after selling 1,000 shares during the period. Marietta Wealth Management LLC’s holdings in Coca-Cola were worth $447,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KO. New Millennium Group LLC acquired a new stake in shares of Coca-Cola in the second quarter valued at approximately $26,000. Quarry LP purchased a new stake in Coca-Cola in the 2nd quarter valued at approximately $27,000. ESL Trust Services LLC acquired a new stake in Coca-Cola during the 1st quarter valued at $28,000. Redmont Wealth Advisors LLC purchased a new position in Coca-Cola during the first quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. raised its holdings in shares of Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after acquiring an additional 206 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $69.45 on Wednesday. The Coca-Cola Company has a 1 year low of $54.04 and a 1 year high of $73.53. The stock has a 50-day simple moving average of $70.75 and a 200-day simple moving average of $65.94. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The stock has a market capitalization of $299.19 billion, a P/E ratio of 27.78, a PEG ratio of 3.92 and a beta of 0.60.

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

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Insider Activity

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the 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 completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,074,330.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 356,792 shares of company stock worth $24,728,364. 0.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on KO. Morgan Stanley increased their price objective on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Citigroup lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Barclays upped their price objective on shares of Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Five 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

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.