Longfellow Investment Management Co. LLC Sells 2,435 Shares of The Coca-Cola Company (NYSE:KO)

Longfellow Investment Management Co. LLC lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 14.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,234 shares of the company’s stock after selling 2,435 shares during the quarter. Longfellow Investment Management Co. LLC’s holdings in Coca-Cola were worth $1,023,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of KO. Apella Capital LLC grew its holdings in Coca-Cola by 1.4% during the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after buying an additional 146 shares in the last quarter. Investment Advisory Group LLC boosted its position in shares of Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after acquiring an additional 146 shares during the period. Elwood & Goetz Wealth Advisory Group LLC grew its stake in Coca-Cola by 2.2% during the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after acquiring an additional 149 shares in the last quarter. CCG Wealth Management LLC increased its holdings in Coca-Cola by 4.3% during the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after acquiring an additional 149 shares during the period. Finally, Investment Partners Asset Management Inc. lifted its stake in Coca-Cola by 2.2% in the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after purchasing an additional 150 shares in the last quarter. 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. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Morgan Stanley decreased their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company boosted their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Truist Financial boosted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Four investment 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.36.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction 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 approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. 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 stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.4 %

Shares of KO opened at $64.19 on Monday. The Coca-Cola Company has a 1-year low of $57.47 and a 1-year high of $73.53. The firm has a market capitalization of $276.52 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 3.88 and a beta of 0.61. The firm’s 50-day moving average price is $67.79 and its 200-day moving average price is $66.57. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last posted its earnings results 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. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business’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 EPS. Sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend 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.