Ingalls & Snyder LLC Sells 13,395 Shares of The Coca-Cola Company (NYSE:KO)

Ingalls & Snyder LLC lessened its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 16.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,979 shares of the company's stock after selling 13,395 shares during the quarter. Ingalls & Snyder LLC's holdings in Coca-Cola were worth $4,885,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Apella Capital LLC lifted its stake in Coca-Cola by 1.4% in the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company's stock worth $748,000 after purchasing an additional 146 shares in the last quarter. Investment Advisory Group LLC boosted its stake in Coca-Cola by 4.5% during the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company's stock valued at $243,000 after buying an additional 146 shares during the period. Elwood & Goetz Wealth Advisory Group LLC grew its position in Coca-Cola by 2.2% during the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company's stock worth $437,000 after buying an additional 149 shares in the last quarter. CCG Wealth Management LLC increased its stake in Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company's stock worth $260,000 after acquiring an additional 149 shares during the last quarter. Finally, Investment Partners Asset Management Inc. raised its holdings in shares of Coca-Cola by 2.2% in the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company's stock valued at $500,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Hsbc Global Res raised shares of Coca-Cola to a "strong-buy" rating in a report on Friday, September 27th. Barclays decreased their price objective on 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. Cfra reiterated a "hold" rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Wells Fargo & Company dropped their price objective on Coca-Cola from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday. Four 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 company. According to data from MarketBeat.com, Coca-Cola presently has an average rating of "Moderate Buy" and an average target price of $72.14.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company's stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.97% of the company's stock.

Coca-Cola Price Performance

Coca-Cola stock traded down $0.12 during mid-day trading on Tuesday, reaching $63.53. 24,870,474 shares of the company's stock traded hands, compared to its average volume of 13,602,822. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month 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. The stock has a 50 day moving average of $66.75 and a two-hundred day moving average of $66.61. The company has a market cap of $273.67 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 3.87 and a beta of 0.61.

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. 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 firm's revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. Equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.05%. The ex-dividend date is Friday, November 29th. Coca-Cola's payout ratio is currently 80.17%.

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.