Jacobs & Co. CA Sells 12,800 Shares of The Coca-Cola Company (NYSE:KO)

Jacobs & Co. CA lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 13.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,697 shares of the company’s stock after selling 12,800 shares during the quarter. Jacobs & Co. CA’s holdings in Coca-Cola were worth $4,961,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in KO. Apella Capital LLC boosted its holdings in Coca-Cola by 1.4% in the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after acquiring an additional 146 shares in the last quarter. Investment Advisory Group LLC increased its position in shares of Coca-Cola by 4.5% during the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after acquiring an additional 146 shares during the last quarter. CCG Wealth Management LLC increased its position in shares of Coca-Cola by 4.3% during the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after acquiring an additional 149 shares during the last quarter. Investment Partners Asset Management Inc. increased its position in shares of Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after acquiring an additional 150 shares during the last quarter. Finally, Chapin Davis Inc. increased its position in shares of Coca-Cola by 1.0% during the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock valued at $1,100,000 after acquiring an additional 153 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 1.4 %

KO stock traded down $0.88 during trading on Friday, hitting $60.83. 8,809,848 shares of the company traded hands, compared to its average volume of 13,680,722. The firm has a market capitalization of $262.04 billion, a PE ratio of 25.14, a P/E/G ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The company has a 50-day moving average of $62.99 and a 200-day moving average of $66.48. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

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

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.485 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.19%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on KO shares. 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. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Wednesday. Piper Sandler initiated coverage on Coca-Cola in a research report on Tuesday. They issued an “overweight” rating and a $74.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Morgan Stanley reduced their target price 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. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $72.60.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is owned by insiders.

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.