The Coca-Cola Company (NYSE:KO) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. reduced its stake in The Coca-Cola Company (NYSE:KO) by 8.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,231 shares of the company’s stock after selling 564 shares during the quarter. Freedom Investment Management Inc.’s holdings in Coca-Cola were worth $448,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KO. Harvest Portfolios Group Inc. purchased a new position in Coca-Cola during the third quarter worth about $18,383,000. Balentine LLC raised its position in shares of Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after buying an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after acquiring an additional 59,503 shares during the last quarter. CIBC Asset Management Inc grew its position in Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after acquiring an additional 46,541 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in Coca-Cola by 4.8% during the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after acquiring an additional 21,005 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Price Performance

KO stock opened at $64.12 on Friday. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53. The firm has a market capitalization of $276.22 billion, a P/E ratio of 26.50, a P/E/G ratio of 3.91 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 business’s 50-day moving average is $67.07 and its two-hundred day moving average is $66.56.

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

Coca-Cola Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.03%. Coca-Cola’s payout ratio is currently 80.17%.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the topic of several recent analyst reports. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Wells Fargo & Company increased their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Barclays reduced their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Truist Financial increased their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $72.36.

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.