The Coca-Cola Company (NYSE:KO) Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 35.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,253 shares of the company's stock after selling 16,859 shares during the period. Jennison Associates LLC's holdings in Coca-Cola were worth $2,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. New Millennium Group LLC bought a new position in shares of Coca-Cola during the 2nd quarter valued at approximately $26,000. Quarry LP purchased a new position in shares of Coca-Cola in the 2nd quarter worth $27,000. Hara Capital LLC bought a new stake in shares of Coca-Cola in the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola during the 3rd quarter valued at about $36,000. Finally, Mount Lucas Management LP purchased a new stake in shares of Coca-Cola during the 2nd quarter valued at about $38,000. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value 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 $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 160,881 shares of company stock valued at $10,693,244 over the last quarter. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Trading Up 0.3 %

Shares of KO opened at $63.92 on Friday. The firm has a market capitalization of $275.35 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 3.87 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. 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 $67.79 and a 200 day moving average of $66.54.

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 (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for 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 period last year, the company posted $0.74 earnings per share. On average, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Friday, November 29th. Coca-Cola's payout ratio is currently 80.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday, September 16th. 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. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. Barclays cut their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Finally, Truist Financial increased their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.36.

Coca-Cola 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.