Loomis Sayles & Co. L P Sells 16,398 Shares of The Coca-Cola Company (NYSE:KO)

Loomis Sayles & Co. L P lowered its position in The Coca-Cola Company (NYSE:KO) by 12.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 110,926 shares of the company’s stock after selling 16,398 shares during the period. Loomis Sayles & Co. L P’s holdings in Coca-Cola were worth $7,971,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in shares of Coca-Cola in the second quarter worth approximately $26,000. Quarry LP purchased a new stake in shares of Coca-Cola in the second quarter worth approximately $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola in the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola in the third quarter worth approximately $36,000. Finally, Mount Lucas Management LP purchased a new stake in shares of Coca-Cola in the second quarter worth approximately $38,000. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the subject of a number of research analyst reports. Morgan Stanley decreased their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Truist Financial increased their price target 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 decreased their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Wells Fargo & Company increased their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock opened at $64.43 on Thursday. The Coca-Cola Company has a one year low of $57.47 and a one year high of $73.53. The business has a fifty day moving average price of $67.34 and a 200-day moving average price of $66.57. 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 firm has a market capitalization of $277.55 billion, a P/E ratio of 26.62, a PEG ratio of 3.91 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping 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 firm 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 earned $0.74 earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

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.