Mediolanum International Funds Ltd Lowers Holdings in The Coca-Cola Company (NYSE:KO)

Mediolanum International Funds Ltd trimmed its stake in The Coca-Cola Company (NYSE:KO) by 42.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 313,902 shares of the company’s stock after selling 232,606 shares during the period. Mediolanum International Funds Ltd’s holdings in Coca-Cola were worth $22,498,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in KO. New Millennium Group LLC acquired a new position in Coca-Cola during the 2nd quarter valued at about $26,000. Quarry LP acquired a new position in Coca-Cola during the 2nd quarter valued at about $27,000. ESL Trust Services LLC acquired a new position in Coca-Cola during the 1st quarter valued at about $28,000. Redmont Wealth Advisors LLC acquired a new position in Coca-Cola during the 1st quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. increased its holdings in shares of Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares during the period. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Performance

KO traded up $0.21 during trading on Friday, reaching $67.51. The company’s stock had a trading volume of 2,518,824 shares, compared to its average volume of 13,211,462. The company’s fifty day moving average price is $70.74 and its 200-day moving average price is $65.96. The company has a market capitalization of $290.83 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The Coca-Cola Company has a 52-week low of $55.10 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The business 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 43.62% and a net margin of 22.92%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.74 EPS. On average, equities analysts forecast 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. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Analyst Upgrades and Downgrades

KO has been the topic of a number of recent research reports. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Barclays increased their price target on Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Bank of America raised their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Wells Fargo & Company raised their price target on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada raised their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $71.87.

Insider Transactions at Coca-Cola

In related news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Insiders have sold 319,005 shares of company stock valued at $22,198,147 in the last quarter. 0.97% of the stock is currently owned by corporate insiders.

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.