Pine Valley Investments Ltd Liability Co Sells 13,494 Shares of The Coca-Cola Company (NYSE:KO)

Pine Valley Investments Ltd Liability Co lessened its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 17.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,961 shares of the company's stock after selling 13,494 shares during the period. Pine Valley Investments Ltd Liability Co's holdings in Coca-Cola were worth $4,605,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Harvest Portfolios Group Inc. purchased a new stake in Coca-Cola in the 3rd quarter worth approximately $18,383,000. Balentine LLC raised its holdings in shares of 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 in the last quarter. Sheaff Brock Investment Advisors LLC boosted 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 valued at $8,351,000 after purchasing an additional 59,503 shares during the last quarter. CIBC Asset Management Inc grew its stake in Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company's stock valued at $61,122,000 after purchasing an additional 46,541 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position 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 worth $32,895,000 after purchasing an additional 21,005 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Coca-Cola Price Performance

NYSE KO traded up $1.20 on Thursday, reaching $63.84. The company's stock had a trading volume of 17,072,784 shares, compared to its average volume of 13,849,868. The Coca-Cola Company has a 52 week low of $57.47 and a 52 week high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a market cap of $275.01 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 3.80 and a beta of 0.61. The business has a 50-day moving average price of $65.68 and a 200 day moving average price of $66.59.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the firm earned $0.74 EPS. Coca-Cola's quarterly revenue was down .8% on a year-over-year basis. Sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola's payout ratio is currently 80.17%.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 342,546 shares of the company's stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a "hold" rating to a "buy" rating and boosted their target price for the stock from $68.00 to $70.00 in a research report on Thursday. Morgan Stanley lowered their target price on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Barclays reduced their price target on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Finally, Cfra reissued a "hold" rating on shares of Coca-Cola in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $72.50.

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.