Rehmann Capital Advisory Group Decreases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Rehmann Capital Advisory Group lessened its holdings in The Coca-Cola Company (NYSE:KO) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,412 shares of the company’s stock after selling 774 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Coca-Cola were worth $2,185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KO. FMR LLC boosted its stake in Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. Geode Capital Management LLC increased its position in Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares during the period. Legal & General Group Plc raised its position in Coca-Cola by 2.9% in the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after acquiring an additional 1,084,475 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares during the period. Finally, Truist Financial Corp lifted its position in shares of Coca-Cola by 1.1% during the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock valued at $1,041,479,000 after acquiring an additional 177,241 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KO has been the topic of several research reports. 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 research report on Wednesday, October 16th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Wells Fargo & Company lowered their target price on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, December 2nd. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Morgan Stanley lowered their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Four equities 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. Based on data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $72.14.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

Shares of KO stock opened at $62.94 on Wednesday. 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 $57.47 and a 12 month high of $73.53. The company’s fifty day moving average price is $66.03 and its two-hundred day moving average price is $66.61. The firm has a market capitalization of $271.11 billion, a P/E ratio of 26.01, a P/E/G ratio of 3.80 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the firm earned $0.74 EPS. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. On average, research 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 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. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.08%. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

About Coca-Cola

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.