Belmont Capital LLC Has $147,000 Holdings in The Coca-Cola Company (NYSE:KO)

Belmont Capital LLC decreased its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 91.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,046 shares of the company's stock after selling 21,402 shares during the period. Belmont Capital LLC's holdings in Coca-Cola were worth $147,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Harvest Portfolios Group Inc. bought a new position in Coca-Cola during the third quarter worth about $18,383,000. Balentine LLC lifted its position in Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company's stock worth $2,048,000 after acquiring an additional 13,685 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company's stock worth $8,351,000 after acquiring an additional 59,503 shares during the last quarter. CIBC Asset Management Inc lifted its position in Coca-Cola by 5.8% during the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company's stock worth $61,122,000 after acquiring an additional 46,541 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in Coca-Cola by 4.8% during the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company's stock worth $32,895,000 after acquiring an additional 21,005 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Coca-Cola Price Performance

Shares of NYSE KO traded up $0.72 during midday trading on Tuesday, reaching $62.58. 16,247,853 shares of the company were exchanged, compared to its average volume of 13,388,878. The stock's 50-day moving average price is $68.25 and its 200-day moving average price is $66.55. The stock has a market cap of $269.58 billion, a P/E ratio of 25.86, a PEG ratio of 3.75 and a beta of 0.61. The Coca-Cola Company has a one year low of $56.96 and a one year high of $73.53. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion for the quarter, compared to analysts' expectations of $11.61 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Coca-Cola's revenue for the quarter was down .8% on a year-over-year basis. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.10%. Coca-Cola's payout ratio is 80.17%.

Insider Activity at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of the company's 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 transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 102,533 shares of the company's 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 transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 18.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 303,748 shares of company stock worth $20,677,431 over the last quarter. Company insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

KO has been the subject of a number of analyst reports. Hsbc Global Res upgraded shares of Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the company a "hold" rating in a research report on Wednesday, July 24th. Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Citigroup lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Finally, TD Cowen boosted their price objective 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. Four equities 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 stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of "Moderate Buy" and a consensus target price of $72.36.

About Coca-Cola

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.