The Coca-Cola Company (NYSE:KO) Stake Lowered by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise cut its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 17.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 373,460 shares of the company's stock after selling 76,577 shares during the period. Coca-Cola makes up about 1.1% of Banque Cantonale Vaudoise's holdings, making the stock its 9th largest holding. Banque Cantonale Vaudoise's holdings in Coca-Cola were worth $26,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in KO. Price T Rowe Associates Inc. MD raised 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 valued at $3,016,023,000 after acquiring an additional 8,733,326 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in Coca-Cola in the second quarter valued at $188,448,000. Pathway Financial Advisers LLC raised its stake in Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company's stock valued at $178,104,000 after buying an additional 2,443,612 shares in the last quarter. Raymond James & Associates raised its stake in Coca-Cola by 42.6% in the second quarter. Raymond James & Associates now owns 6,245,331 shares of the company's stock valued at $397,515,000 after buying an additional 1,866,348 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of 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 purchasing an additional 1,722,202 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO James Quincey sold 102,533 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares of the company's stock, valued at $30,987,070.92. The trade was a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 303,748 shares of company stock valued at $20,677,431. Insiders own 0.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on Coca-Cola from $64.00 to $65.00 and gave the company a "hold" rating in a report on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, September 16th. TD Cowen lifted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a "hold" rating in a research report on Thursday, July 25th. Finally, Cfra reiterated a "hold" rating on shares of Coca-Cola in a research 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $72.36.

Coca-Cola Stock Performance

KO stock traded up $0.73 during midday trading on Tuesday, reaching $62.59. The company had a trading volume of 16,012,250 shares, compared to its average volume of 13,388,878. 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 stock has a 50 day moving average price of $68.43 and a 200 day moving average price of $66.54. The Coca-Cola Company has a fifty-two week low of $56.96 and a fifty-two week high of $73.53. The firm has a market capitalization of $269.63 billion, a PE ratio of 25.62, a P/E/G ratio of 3.75 and a beta of 0.61.

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 for the quarter, beating analysts' consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analysts' expectations 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 for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. Analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.10%. Coca-Cola's dividend payout ratio (DPR) is presently 80.17%.

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.