CFM Wealth Partners LLC Sells 2,728 Shares of The Coca-Cola Company (NYSE:KO)

CFM Wealth Partners LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,663 shares of the company’s stock after selling 2,728 shares during the quarter. CFM Wealth Partners LLC’s holdings in Coca-Cola were worth $4,000,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KO. Price T Rowe Associates Inc. MD lifted its position in Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after buying an additional 8,733,326 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Coca-Cola by 30.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after buying an additional 2,964,850 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Coca-Cola during the 2nd quarter worth about $188,448,000. M&G Plc acquired a new position in Coca-Cola during the 1st quarter valued at about $157,087,000. Finally, Raymond James & Associates lifted its position in Coca-Cola by 42.6% during the 2nd quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock valued at $397,515,000 after purchasing an additional 1,866,348 shares during the period. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 37,787 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $66.96, for a total value of $2,530,217.52. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,954,176.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of Coca-Cola stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $66.96, for a total value of $2,530,217.52. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,954,176.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Quincey sold 42,397 shares of Coca-Cola stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 356,792 shares of company stock worth $24,728,364. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KO. Wells Fargo & Company upped their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. BNP Paribas began coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target for the company. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. TD Cowen increased their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, Bank of America increased their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Five equities research 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.33.

Coca-Cola Trading Up 0.0 %

Shares of Coca-Cola stock opened at $70.36 on Wednesday. The Coca-Cola Company has a 1 year low of $52.84 and a 1 year high of $73.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The company has a market capitalization of $303.11 billion, a price-to-earnings ratio of 28.14, a P/E/G ratio of 3.92 and a beta of 0.60. The business has a fifty day simple moving average of $70.60 and a two-hundred day simple moving average of $65.59.

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

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s payout ratio is currently 77.60%.

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.