Waldron Private Wealth LLC Trims Stake in The Coca-Cola Company (NYSE:KO)

Waldron Private Wealth LLC lessened its stake in The Coca-Cola Company (NYSE:KO) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,720 shares of the company’s stock after selling 1,672 shares during the period. Waldron Private Wealth LLC’s holdings in Coca-Cola were worth $4,393,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Eastern Bank grew its position in shares of Coca-Cola by 1,380.8% in the third quarter. Eastern Bank now owns 168,294 shares of the company’s stock valued at $12,094,000 after purchasing an additional 156,929 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of Coca-Cola by 35.5% during the third quarter. Sequoia Financial Advisors LLC now owns 143,561 shares of the company’s stock worth $10,319,000 after purchasing an additional 37,632 shares in the last quarter. RFP Financial Group LLC raised its stake in Coca-Cola by 89.1% in the 3rd quarter. RFP Financial Group LLC now owns 145,360 shares of the company’s stock valued at $10,445,000 after purchasing an additional 68,507 shares during the last quarter. Home Federal Bank of Tennessee lifted its holdings in Coca-Cola by 1.9% in the 3rd quarter. Home Federal Bank of Tennessee now owns 24,542 shares of the company’s stock valued at $1,764,000 after purchasing an additional 460 shares in the last quarter. Finally, DeDora Capital Inc. boosted its stake in Coca-Cola by 3.4% during the 3rd quarter. DeDora Capital Inc. now owns 4,902 shares of the company’s stock worth $352,000 after purchasing an additional 160 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. BNP Paribas started coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price on the stock. Morgan Stanley boosted their price objective on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Truist Financial raised 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, JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Five investment 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Insider Activity at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 directly owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa Chang sold 58,122 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the transaction, the executive vice president now owns 74,067 shares in the company, valued at $5,074,330.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 356,792 shares of company stock valued at $24,728,364 over the last quarter. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Up 0.1 %

Shares of NYSE KO traded up $0.05 during mid-day trading on Tuesday, hitting $69.50. The company had a trading volume of 10,283,251 shares, compared to its average volume of 13,145,637. The company has a market capitalization of $299.40 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The business’s 50-day simple moving average is $70.73 and its 200 day simple moving average is $65.87. The Coca-Cola Company has a 1-year low of $54.04 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.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. On average, analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend yield of 2.79%. Coca-Cola’s payout ratio is currently 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.