The Coca-Cola Company (NYSE:KO) Shares Sold by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,035 shares of the company’s stock after selling 878 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Coca-Cola were worth $1,299,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. New Millennium Group LLC purchased a new stake in Coca-Cola in the second quarter valued at approximately $26,000. Quarry LP purchased a new stake in Coca-Cola in the 2nd quarter worth approximately $27,000. ESL Trust Services LLC purchased a new stake in Coca-Cola in the 1st quarter worth approximately $28,000. Hara Capital LLC purchased a new stake in Coca-Cola in the 3rd quarter worth approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola in the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on KO. Deutsche Bank Aktiengesellschaft upped their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. TD Cowen increased their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Truist Financial increased their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays reduced their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Coca-Cola Trading Down 0.1 %

Coca-Cola stock traded down $0.07 during midday trading on Wednesday, reaching $63.13. 1,299,178 shares of the stock traded hands, compared to its average volume of 13,240,653. The company has a 50-day simple moving average of $69.18 and a two-hundred day simple moving average of $66.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a market cap of $271.95 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 3.85 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $56.70 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) 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 business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. Research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insider Transactions at Coca-Cola

In other news, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was 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 of the company’s stock, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coca-Cola news, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,150,619.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola 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 transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 303,748 shares of company stock valued at $20,677,431. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola 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.