The Coca-Cola Company (NYSE:KO) Stock Holdings Lessened by Argyle Capital Management Inc.

Argyle Capital Management Inc. lowered its stake in The Coca-Cola Company (NYSE:KO) by 6.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,238 shares of the company’s stock after selling 3,915 shares during the period. Coca-Cola makes up about 1.5% of Argyle Capital Management Inc.’s investment portfolio, making the stock its 18th largest holding. Argyle Capital Management Inc.’s holdings in Coca-Cola were worth $3,826,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. New Millennium Group LLC purchased a new position in Coca-Cola during the 2nd quarter worth approximately $26,000. Quarry LP purchased a new position in Coca-Cola during the 2nd quarter worth approximately $27,000. Redmont Wealth Advisors LLC purchased a new position in Coca-Cola during the 1st quarter worth approximately $28,000. ESL Trust Services LLC purchased a new position in Coca-Cola during the 1st quarter worth approximately $28,000. Finally, DiNuzzo Private Wealth Inc. grew its position in Coca-Cola by 65.0% during the 1st 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. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Coca-Cola stock traded down $0.55 on Tuesday, reaching $66.12. 3,898,187 shares of the stock were exchanged, compared to its average volume of 13,196,419. The firm has a fifty day moving average price of $70.62 and a two-hundred day moving average price of $66.17. The stock has a market cap of $284.84 billion, a PE ratio of 26.45, a PEG ratio of 3.91 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a twelve month low of $55.42 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data 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 net margin of 22.92% and a return on equity of 43.62%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 earnings per share. Sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analyst Ratings Changes

Several equities analysts have recently commented on KO shares. JPMorgan Chase & Co. boosted their price target 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 report on Friday, July 19th. Bank of America boosted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Truist Financial boosted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Barclays lowered their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.80.

Insider Buying and Selling

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 completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 319,005 shares of company stock valued at $22,198,147 over the last quarter. Corporate insiders own 0.97% of the company’s stock.

About Coca-Cola

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.