KCM Investment Advisors LLC Has $3.67 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

KCM Investment Advisors LLC decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,998 shares of the company’s stock after selling 525 shares during the period. KCM Investment Advisors LLC’s holdings in Coca-Cola were worth $3,665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. New Millennium Group LLC bought a new stake in Coca-Cola in the second quarter worth $26,000. Quarry LP bought a new position in Coca-Cola during the second quarter valued at about $27,000. ESL Trust Services LLC bought a new position in Coca-Cola during the first quarter valued at about $28,000. Hara Capital LLC acquired a new position in shares of Coca-Cola during the 3rd quarter valued at about $35,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola in the 3rd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO traded down $0.68 on Friday, reaching $61.87. 3,586,686 shares of the stock traded hands, compared to its average volume of 13,262,701. The firm has a market cap of $266.52 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 3.83 and a beta of 0.61. 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 Coca-Cola Company has a 12 month low of $56.70 and a 12 month high of $73.53. The stock’s 50-day moving average price is $68.82 and its 200-day moving average price is $66.48.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 earnings per share. Equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is 80.17%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barclays cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company raised their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Citigroup raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Four equities 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.36.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The trade was a 18.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa Chang sold 40,334 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the sale, the executive vice president now directly owns 74,067 shares in the company, valued at approximately $5,150,619.18. This represents a 35.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 303,748 shares of company stock valued at $20,677,431 in the last 90 days. 0.97% of the stock is owned by corporate insiders.

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.