The Coca-Cola Company (NYSE:KO) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. decreased its position in The Coca-Cola Company (NYSE:KO) by 2.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,530 shares of the company’s stock after selling 711 shares during the period. Linscomb Wealth Inc.’s holdings in Coca-Cola were worth $1,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of KO. Price T Rowe Associates Inc. MD boosted its stake in shares of Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after buying an additional 8,733,326 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $188,448,000. Pathway Financial Advisers LLC increased its holdings in shares of Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after purchasing an additional 2,443,612 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Coca-Cola by 42.6% in the 2nd quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock valued at $397,515,000 after purchasing an additional 1,866,348 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Coca-Cola by 7,792.8% during the third quarter. International Assets Investment Management LLC now owns 1,744,302 shares of the company’s stock worth $125,346,000 after buying an additional 1,722,202 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Down 1.3 %

Shares of NYSE:KO opened at $61.73 on Friday. The Coca-Cola Company has a 52-week low of $56.70 and a 52-week high of $73.53. The stock has a market cap of $265.92 billion, a P/E ratio of 25.51, a PEG ratio of 3.83 and a beta of 0.61. The business has a fifty day moving average of $68.63 and a two-hundred day moving average of $66.48. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KO. TD Cowen upped their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Citigroup increased their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada increased their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of 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 18.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 303,748 shares of company stock worth $20,677,431. 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.