The Coca-Cola Company (NYSE:KO) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 12.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 145,483 shares of the company’s stock after selling 20,950 shares during the period. Impax Asset Management Group plc’s holdings in Coca-Cola were worth $10,454,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC acquired a new position in shares of Coca-Cola in the 2nd quarter valued at $26,000. Quarry LP acquired a new position in Coca-Cola in the second quarter valued at $27,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola during the first quarter worth about $28,000. DiNuzzo Private Wealth Inc. increased its position in shares of Coca-Cola by 65.0% during the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola in the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of several research analyst reports. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Royal Bank of Canada raised their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Barclays reduced their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, TD Cowen raised their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated 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 sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 203,748 shares of company stock valued at $14,274,431 in the last 90 days. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

Shares of KO opened at $65.39 on Wednesday. The company has a market capitalization of $281.69 billion, a PE ratio of 27.02, a P/E/G ratio of 3.95 and a beta of 0.61. The Coca-Cola Company has a 52-week low of $56.06 and a 52-week high of $73.53. The company has a 50-day simple moving average of $70.06 and a 200-day simple moving average of $66.45. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

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

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

Coca-Cola Company 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.