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

Prime Capital Investment Advisors LLC lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 7.5% in the third quarter, Holdings Channel.com reports. The fund owned 135,549 shares of the company’s stock after selling 10,912 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Coca-Cola were worth $9,741,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC increased its position in shares of Coca-Cola by 17.8% during the first quarter. William Blair Investment Management LLC now owns 207,956 shares of the company’s stock valued at $12,723,000 after acquiring an additional 31,397 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in Coca-Cola by 4.6% during the first quarter. Koshinski Asset Management Inc. now owns 27,953 shares of the company’s stock worth $1,710,000 after purchasing an additional 1,242 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Coca-Cola by 0.7% during the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock worth $179,578,000 after buying an additional 20,048 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in shares of Coca-Cola by 3.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 4,343,558 shares of the company’s stock valued at $269,431,000 after buying an additional 138,392 shares during the period. Finally, Angeles Wealth Management LLC grew its position in Coca-Cola by 2.4% in the 1st quarter. Angeles Wealth Management LLC now owns 11,149 shares of the company’s stock valued at $682,000 after acquiring an additional 265 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the sale, the executive vice president now directly owns 74,067 shares in the company, valued at $5,150,619.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 42,397 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 303,748 shares of company stock worth $20,677,431 in the last 90 days. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.2 %

Shares of NYSE KO traded up $0.12 during trading hours on Tuesday, hitting $63.48. The company had a trading volume of 2,560,882 shares, compared to its average volume of 13,233,775. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The firm’s 50 day moving average is $69.37 and its 200-day moving average is $66.52. The Coca-Cola Company has a 1-year low of $56.60 and a 1-year high of $73.53. The stock has a market capitalization of $273.46 billion, a P/E ratio of 26.19, a price-to-earnings-growth ratio of 3.88 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its 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 business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s revenue was down .8% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. On average, analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company 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. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.06%. Coca-Cola’s payout ratio is currently 80.17%.

Analyst Upgrades and Downgrades

KO has been the subject of a number of analyst reports. Wells Fargo & Company boosted their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Truist Financial increased their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Barclays dropped 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, StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.80.

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.