Ascent Group LLC Sells 9,817 Shares of The Coca-Cola Company (NYSE:KO)

Ascent Group LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 11.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,030 shares of the company’s stock after selling 9,817 shares during the period. Ascent Group LLC’s holdings in Coca-Cola were worth $5,464,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. New Millennium Group LLC bought a new position in shares of Coca-Cola in the second quarter worth about $26,000. Quarry LP bought a new position in Coca-Cola in the 2nd quarter worth approximately $27,000. Hara Capital LLC purchased a new stake in Coca-Cola during the 3rd quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola during the third quarter valued at approximately $36,000. Finally, Mount Lucas Management LP bought a new position in shares of Coca-Cola during the second quarter worth $38,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on KO shares. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays reduced their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Morgan Stanley reduced their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $72.36.

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

Coca-Cola stock opened at $64.08 on Monday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm has a market capitalization of $276.04 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 3.89 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $57.47 and a 1-year high of $73.53. The company’s 50-day moving average is $67.07 and its 200 day moving average is $66.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 earnings per share. Research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

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 paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio 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.