UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Position in The Coca-Cola Company (NYSE:KO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,353,080 shares of the company’s stock after selling 823,495 shares during the period. Coca-Cola accounts for about 0.5% of UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings, making the stock its 25th biggest position. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.68% of Coca-Cola worth $2,109,312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Strategic Wealth Partners Ltd. lifted its holdings in shares of Coca-Cola by 9.3% in the 1st quarter. Strategic Wealth Partners Ltd. now owns 4,961 shares of the company’s stock valued at $303,000 after purchasing an additional 424 shares during the last quarter. Sanibel Captiva Trust Company Inc. increased its position in Coca-Cola by 2.6% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 68,087 shares of the company’s stock worth $4,166,000 after buying an additional 1,707 shares during the period. Swedbank AB purchased a new stake in Coca-Cola in the first quarter valued at approximately $102,604,000. Community Trust & Investment Co. boosted its holdings in shares of Coca-Cola by 13.5% in the first quarter. Community Trust & Investment Co. now owns 54,470 shares of the company’s stock valued at $3,332,000 after acquiring an additional 6,458 shares during the period. Finally, Dodds Wealth LLC purchased a new position in shares of Coca-Cola during the first quarter worth approximately $207,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.2 %

Shares of KO opened at $64.43 on Thursday. The firm’s 50-day moving average is $67.34 and its two-hundred day moving average is $66.57. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $277.55 billion, a P/E ratio of 26.62, a PEG ratio of 3.91 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share 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 return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 earnings per share. On average, research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Analyst Ratings Changes

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

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were 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 owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.97% of the company’s stock.

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.