The Coca-Cola Company (NYSE:KO) Shares Sold by Hoertkorn Richard Charles

Hoertkorn Richard Charles reduced its stake in The Coca-Cola Company (NYSE:KO) by 61.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,955 shares of the company’s stock after selling 8,000 shares during the quarter. Hoertkorn Richard Charles’ holdings in Coca-Cola were worth $356,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of KO. Swedbank AB purchased a new stake in shares of Coca-Cola during the first quarter worth about $102,604,000. BDF Gestion purchased a new stake in shares of Coca-Cola during the second quarter valued at approximately $7,421,000. Duality Advisers LP grew its stake in shares of Coca-Cola by 191.1% during the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock valued at $6,843,000 after acquiring an additional 73,434 shares in the last quarter. TD Asset Management Inc grew its position in shares of Coca-Cola by 0.7% during the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock worth $179,578,000 after buying an additional 20,048 shares in the last quarter. Finally, New Mexico Educational Retirement Board lifted its position in shares of Coca-Cola by 11.6% during the first quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock worth $14,013,000 after purchasing an additional 23,500 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred 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 directly owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 356,792 shares of company stock valued at $24,728,364 over the last ninety days. 0.97% of the stock is owned by company insiders.

Coca-Cola Trading Down 2.1 %

KO opened at $68.02 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a fifty-two week low of $55.10 and a fifty-two week high of $73.53. The company’s 50 day moving average price is $70.74 and its two-hundred day moving average price is $65.96. The firm has a market capitalization of $293.03 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. As a group, research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed 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. 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 2.85%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. increased their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley cut their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $71.87.

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.