B. Riley Wealth Advisors Inc. Decreases Stake in The Coca-Cola Company (NYSE:KO)

B. Riley Wealth Advisors Inc. lessened its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 18.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 109,426 shares of the company's stock after selling 24,777 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Coca-Cola were worth $7,861,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in KO. New Millennium Group LLC purchased a new position in Coca-Cola in the 2nd quarter valued at approximately $26,000. Quarry LP purchased a new position in Coca-Cola in the second quarter valued at $27,000. Hara Capital LLC purchased a new stake in Coca-Cola during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the 3rd quarter valued at about $36,000. Finally, Mount Lucas Management LP acquired a new stake in Coca-Cola in the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.97% of the company's stock.

Coca-Cola Stock Performance

NYSE:KO traded down $0.72 during trading hours on Friday, reaching $63.12. 13,429,033 shares of the company's stock were exchanged, compared to its average volume of 13,848,538. 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 has a market capitalization of $271.91 billion, a price-to-earnings ratio of 26.08, a P/E/G ratio of 3.81 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $57.47 and a 1-year high of $73.53. The company has a 50-day moving average of $65.41 and a 200 day moving average of $66.61.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.03. The firm 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%. The business's revenue was down .8% on a year-over-year basis. During the same quarter last year, the company posted $0.74 earnings per share. Research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business 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 3.07%. The ex-dividend date is Friday, November 29th. Coca-Cola's dividend payout ratio (DPR) is presently 80.17%.

Analyst Upgrades and Downgrades

KO has been the subject of a number of analyst reports. Barclays lowered their price objective on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Cfra restated a "hold" rating on shares of Coca-Cola in a research note on Thursday, September 5th. Wells Fargo & Company lowered their price objective on Coca-Cola from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, December 2nd. Morgan Stanley cut their target price on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a "hold" rating to a "buy" rating and upped their price target for the company from $68.00 to $70.00 in a report on Thursday. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Coca-Cola has a consensus rating of "Moderate Buy" and a consensus target price of $72.50.

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.