Ilex Capital Partners UK LLP Trims Stock Position in The Coca-Cola Company (NYSE:KO)

Ilex Capital Partners UK LLP lessened its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 74.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 539,532 shares of the company's stock after selling 1,594,635 shares during the period. Coca-Cola comprises approximately 2.6% of Ilex Capital Partners UK LLP's investment portfolio, making the stock its 16th largest holding. Ilex Capital Partners UK LLP's holdings in Coca-Cola were worth $38,771,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Harvest Portfolios Group Inc. acquired a new position in Coca-Cola in the 3rd quarter worth about $18,383,000. Balentine LLC raised its stake in shares of Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company's stock worth $2,048,000 after buying an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC lifted its position in shares of Coca-Cola by 104.9% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company's stock valued at $8,351,000 after buying an additional 59,503 shares in the last quarter. CIBC Asset Management Inc grew its stake in Coca-Cola by 5.8% in the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company's stock valued at $61,122,000 after acquiring an additional 46,541 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in Coca-Cola by 4.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company's stock valued at $32,895,000 after acquiring an additional 21,005 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on KO. Barclays decreased their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. Morgan Stanley decreased their price target on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. 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 issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola currently has an average rating of "Moderate Buy" and an average price target of $72.14.

Coca-Cola Trading Down 0.2 %

Shares of Coca-Cola stock traded down $0.12 during mid-day trading on Tuesday, hitting $63.53. The stock had a trading volume of 24,870,474 shares, compared to its average volume of 13,602,822. The firm has a market cap of $273.67 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61. 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 50-day moving average of $66.75 and a two-hundred day moving average of $66.61. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO - Get Free Report) last announced its earnings results 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. The company 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 revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. Sell-side analysts forecast 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. Shareholders of record on Friday, November 29th will be paid 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 yield of 3.05%. Coca-Cola's dividend payout ratio (DPR) is presently 80.17%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate 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.