Signet Financial Management LLC Sells 223 Shares of The Coca-Cola Company (NYSE:KO)

Signet Financial Management LLC cut its stake in The Coca-Cola Company (NYSE:KO) by 0.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 49,852 shares of the company’s stock after selling 223 shares during the period. Signet Financial Management LLC’s holdings in Coca-Cola were worth $3,104,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. FMR LLC grew its position in Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Coca-Cola in the 3rd quarter worth about $269,382,000. Geode Capital Management LLC lifted its holdings in Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after buying an additional 2,966,964 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its position in Coca-Cola by 7,006.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after buying an additional 2,443,612 shares during the period. Institutional investors own 70.26% of the company’s stock.

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 completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.97% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KO. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Barclays reduced their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Piper Sandler assumed coverage on shares of Coca-Cola in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.60.

Coca-Cola Trading Up 1.0 %

NYSE:KO opened at $61.68 on Tuesday. The firm has a 50 day moving average of $62.84 and a 200 day moving average of $66.48. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The stock has a market capitalization of $265.70 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.83 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share 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 analysts’ expectations of $11.61 billion. During the same quarter last year, the firm earned $0.74 EPS. The business’s quarterly revenue was down .8% on a year-over-year basis. As a group, sell-side analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was 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.