Pallas Capital Advisors LLC Lowers Stock Holdings in The Coca-Cola Company (NYSE:KO)

Pallas Capital Advisors LLC cut its position in The Coca-Cola Company (NYSE:KO) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 137,491 shares of the company’s stock after selling 926 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Coca-Cola were worth $8,560,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Parallel Advisors LLC grew its position in shares of Coca-Cola by 0.9% during the 2nd quarter. Parallel Advisors LLC now owns 82,345 shares of the company’s stock worth $5,241,000 after purchasing an additional 755 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Coca-Cola by 9.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 87,195 shares of the company’s stock valued at $5,550,000 after buying an additional 7,594 shares during the period. Envestnet Asset Management Inc. raised its position in Coca-Cola by 2.8% in the second quarter. Envestnet Asset Management Inc. now owns 4,847,781 shares of the company’s stock worth $308,561,000 after acquiring an additional 130,581 shares during the period. Williams Financial LLC bought a new position in shares of Coca-Cola during the 2nd quarter valued at about $6,593,000. Finally, Hoge Financial Services LLC raised its stake in shares of Coca-Cola by 6.1% in the second quarter. Hoge Financial Services LLC now owns 3,850 shares of the company’s stock valued at $245,000 after acquiring an additional 222 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of NYSE KO traded up $0.61 during midday trading on Monday, reaching $61.68. The stock had a trading volume of 18,000,721 shares, compared to its average volume of 16,123,142. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. 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 stock has a 50-day moving average of $62.91 and a 200-day moving average of $66.50. The company has a market capitalization of $265.70 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61.

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

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated 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 directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KO. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. Piper Sandler started coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 target price for the company. Wells Fargo & Company lowered their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Truist Financial upped 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, Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.60.

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.