MN Wealth Advisors LLC Has $685,000 Stock Holdings in The Coca-Cola Company (NYSE:KO)

MN Wealth Advisors LLC trimmed its stake in The Coca-Cola Company (NYSE:KO) by 29.5% in the third quarter, HoldingsChannel reports. The firm owned 9,537 shares of the company’s stock after selling 3,986 shares during the period. MN Wealth Advisors LLC’s holdings in Coca-Cola were worth $685,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Swedbank AB bought a new position in shares of Coca-Cola in the first quarter valued at $102,604,000. BDF Gestion bought a new position in shares of Coca-Cola in the second quarter valued at $7,421,000. Duality Advisers LP lifted its stake in shares of Coca-Cola by 191.1% in the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock valued at $6,843,000 after buying an additional 73,434 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Coca-Cola by 0.7% in the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock valued at $179,578,000 after buying an additional 20,048 shares in the last quarter. Finally, New Mexico Educational Retirement Board lifted its stake in shares of Coca-Cola by 11.6% in the first quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock valued at $14,013,000 after buying an additional 23,500 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KO. Citigroup raised their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Truist Financial raised their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Morgan Stanley raised their price target on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Finally, Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Five 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.33.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated 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 transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The trade was 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 accessible through the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. Insiders sold 356,792 shares of company stock worth $24,728,364 over the last quarter. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

KO opened at $70.36 on Wednesday. The company has a market capitalization of $303.11 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 3.92 and a beta of 0.60. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The firm has a 50-day moving average price of $70.60 and a 200-day moving average price of $65.59. The Coca-Cola Company has a twelve month low of $52.84 and a twelve month high of $73.53.

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 the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share. Equities analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

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

Coca-Cola Company 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.