Mill Creek Capital Advisors LLC Sells 4,041 Shares of The Coca-Cola Company (NYSE:KO)

Mill Creek Capital Advisors LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 38.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,436 shares of the company’s stock after selling 4,041 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Coca-Cola were worth $462,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after acquiring an additional 8,733,326 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Coca-Cola by 2.9% in the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after acquiring an additional 1,084,475 shares during the last quarter. Truist Financial Corp grew its stake in shares of Coca-Cola by 1.1% in the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after acquiring an additional 177,241 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Coca-Cola by 1.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock worth $847,468,000 after acquiring an additional 222,028 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of Coca-Cola by 15.7% in the first quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock worth $638,344,000 after acquiring an additional 1,417,930 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $61.74 on Monday. The Coca-Cola Company has a twelve month low of $56.70 and a twelve month high of $73.53. The firm has a market cap of $265.96 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 3.75 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The business has a fifty day moving average of $68.63 and a 200-day moving average of $66.54.

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

Coca-Cola Announces Dividend

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 paid 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 3.14%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Analyst Upgrades and Downgrades

KO has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Truist Financial raised their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.36.

Insider Activity

In related news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. The trade was a 35.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 303,748 shares of company stock worth $20,677,431. 0.97% of the stock is owned by corporate insiders.

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.