Fort L.P. Sells 226 Shares of The Coca-Cola Company (NYSE:KO)

Fort L.P. lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,657 shares of the company’s stock after selling 226 shares during the period. Coca-Cola accounts for 0.8% of Fort L.P.’s holdings, making the stock its 11th biggest position. Fort L.P.’s holdings in Coca-Cola were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in KO. TrueWealth Advisors LLC increased its holdings in shares of Coca-Cola by 4.6% during the 3rd quarter. TrueWealth Advisors LLC now owns 5,170 shares of the company’s stock worth $371,000 after acquiring an additional 228 shares during the last quarter. Angeles Wealth Management LLC increased its holdings in shares of Coca-Cola by 4.3% during the 3rd quarter. Angeles Wealth Management LLC now owns 13,719 shares of the company’s stock worth $986,000 after acquiring an additional 560 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Coca-Cola by 6.1% during the 3rd quarter. Van ECK Associates Corp now owns 947,330 shares of the company’s stock worth $64,428,000 after acquiring an additional 54,606 shares during the last quarter. Whitener Capital Management Inc. increased its holdings in shares of Coca-Cola by 2.9% during the 3rd quarter. Whitener Capital Management Inc. now owns 33,663 shares of the company’s stock worth $2,419,000 after acquiring an additional 955 shares during the last quarter. Finally, Confluence Wealth Services Inc. increased its holdings in shares of Coca-Cola by 4.5% during the 3rd quarter. Confluence Wealth Services Inc. now owns 18,865 shares of the company’s stock worth $1,356,000 after acquiring an additional 806 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Truist Financial upped their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. TD Cowen upped their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Barclays decreased 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. Finally, Bank of America upped their price objective on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.80.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the sale, the executive vice president now directly owns 74,067 shares in the company, valued at $5,150,619.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 261,870 shares of company stock valued at $18,256,369. 0.97% of the stock is owned by insiders.

Coca-Cola Price Performance

Shares of Coca-Cola stock traded down $0.30 during midday trading on Friday, hitting $65.01. 12,163,094 shares of the company traded hands, compared to its average volume of 13,086,055. The stock has a market cap of $280.05 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 3.97 and a beta of 0.62. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The firm’s fifty day moving average price is $70.29 and its 200-day moving average price is $66.32. The Coca-Cola Company has a 12 month low of $56.06 and a 12 month high of $73.53.

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

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 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.