Baxter Bros Inc. Sells 4,122 Shares of The Coca-Cola Company (NYSE:KO)

Baxter Bros Inc. decreased its position in The Coca-Cola Company (NYSE:KO) by 3.7% during the third quarter, Holdings Channel reports. The fund owned 108,753 shares of the company’s stock after selling 4,122 shares during the period. Coca-Cola comprises approximately 1.0% of Baxter Bros Inc.’s investment portfolio, making the stock its 27th biggest position. Baxter Bros Inc.’s holdings in Coca-Cola were worth $7,815,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in KO. New Millennium Group LLC purchased a new position in shares of Coca-Cola in the second quarter worth approximately $26,000. Quarry LP bought a new position in Coca-Cola in the second quarter worth approximately $27,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola during the 1st quarter worth $28,000. DiNuzzo Private Wealth Inc. grew its position in shares of Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after acquiring an additional 206 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola in the 3rd quarter worth $36,000. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In related news, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the transaction, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Coca-Cola news, CEO James Quincey sold 42,397 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. 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 at this link. Also, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the sale, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 261,870 shares of company stock worth $18,256,369 over the last 90 days. 0.97% of the stock is owned by insiders.

Coca-Cola Trading Down 0.5 %

Shares of Coca-Cola stock opened at $65.01 on Friday. The Coca-Cola Company has a twelve month low of $56.06 and a twelve month high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The business has a 50-day moving average price of $70.29 and a 200-day moving average price of $66.32. The firm has a market cap of $280.05 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 3.97 and a beta of 0.62.

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

Coca-Cola Announces Dividend

The firm also recently declared 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. This represents a $1.94 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Analyst Ratings Changes

Several equities analysts recently weighed in on KO shares. Royal Bank of Canada lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. TD Cowen upped their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Five investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $71.80.

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.