Tidal Investments LLC Has $10.77 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Tidal Investments LLC lessened its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 18.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,856 shares of the company's stock after selling 33,466 shares during the quarter. Tidal Investments LLC's holdings in Coca-Cola were worth $10,769,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Harvest Portfolios Group Inc. acquired a new stake in Coca-Cola in the third quarter valued at $18,383,000. Balentine LLC increased its position in shares of Coca-Cola by 92.4% in the 3rd quarter. Balentine LLC now owns 28,493 shares of the company's stock worth $2,048,000 after purchasing an additional 13,685 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in shares of Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company's stock valued at $8,351,000 after purchasing an additional 59,503 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of 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 purchasing an additional 46,541 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Coca-Cola by 4.8% in the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company's stock worth $32,895,000 after purchasing an additional 21,005 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Coca-Cola Stock Performance

Shares of KO traded down $0.43 during trading hours on Friday, reaching $63.41. 7,642,394 shares of the company's stock traded hands, compared to its average volume of 13,823,487. The business's fifty day simple moving average is $65.55 and its two-hundred day simple moving average is $66.57. The firm has a market capitalization of $273.16 billion, a price-to-earnings ratio of 26.25, a P/E/G ratio of 3.81 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 twelve month low of $57.47 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO - Get Free Report) last posted 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 business had revenue of $11.85 billion during the quarter, compared to analysts' expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business's revenue was down .8% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. Analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

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 paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.06%. Coca-Cola's dividend payout ratio is currently 80.17%.

Wall Street Analyst Weigh In

A number of research analysts have commented on KO shares. Cfra reaffirmed a "hold" rating on shares of Coca-Cola in a report on Thursday, September 5th. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Truist Financial boosted 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. Wells Fargo & Company reduced their price target on shares of Coca-Cola from $78.00 to $75.00 and set an "overweight" rating on the stock in a research report on Monday, December 2nd. Finally, Morgan Stanley lowered their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $72.50.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.97% of the stock is owned by corporate insiders.

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.