Donaldson Capital Management LLC Sells 359 Shares of The Coca-Cola Company (NYSE:KO)

Donaldson Capital Management LLC cut its position in shares of The Coca-Cola Company (NYSE:KO) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,216 shares of the company’s stock after selling 359 shares during the quarter. Donaldson Capital Management LLC’s holdings in Coca-Cola were worth $3,465,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. New Millennium Group LLC bought a new position in shares of Coca-Cola during the second quarter valued at about $26,000. Quarry LP purchased a new stake in shares of Coca-Cola during the second quarter worth about $27,000. ESL Trust Services LLC bought a new stake in shares of Coca-Cola in the 1st quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the third quarter valued at approximately $36,000. Finally, DiNuzzo Private Wealth Inc. raised its holdings in shares of Coca-Cola by 65.0% during the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after acquiring an additional 206 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Trading Down 0.5 %

NYSE:KO opened at $65.01 on Monday. The firm has a market capitalization of $280.05 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 3.97 and a beta of 0.62. 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 business has a fifty day moving average price of $70.29 and a 200-day moving average price of $66.37. The Coca-Cola Company has a one year low of $56.06 and a one year high of $73.53.

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

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.98%. Coca-Cola’s payout ratio is currently 80.17%.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Coca-Cola 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 in the company, valued at $15,968,095. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 261,870 shares of company stock valued at $18,256,369 over the last three months. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Bank of America upped their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Royal Bank of Canada raised their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Truist Financial boosted their price objective 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. Finally, TD Cowen lifted their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.