The Coca-Cola Company (NYSE:KO) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 60.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 242,100 shares of the company's stock after selling 373,851 shares during the period. Intech Investment Management LLC's holdings in Coca-Cola were worth $17,397,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company's stock valued at $3,016,023,000 after acquiring an additional 8,733,326 shares during the last quarter. Legal & General Group Plc grew its position in shares of Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company's stock valued at $2,463,373,000 after buying an additional 1,084,475 shares during the last quarter. Truist Financial Corp raised its stake in Coca-Cola by 1.1% during the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company's stock worth $1,041,479,000 after acquiring an additional 177,241 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Coca-Cola by 1.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company's stock valued at $847,468,000 after acquiring an additional 222,028 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Coca-Cola by 15.7% during the first quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company's stock worth $638,344,000 after purchasing an additional 1,417,930 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Shares of KO stock opened at $63.01 on Thursday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock has a market cap of $271.43 billion, a PE ratio of 26.04, a P/E/G ratio of 3.80 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $57.33 and a 1 year high of $73.53. The stock has a fifty day moving average price of $68.09 and a 200 day moving average price of $66.52.

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

Coca-Cola Announces Dividend

The business 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 $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Friday, November 29th. Coca-Cola's payout ratio is currently 80.17%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business's stock in a transaction on Tuesday, August 27th. The stock was 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 approximately $15,968,095. The trade was a 7.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Quincey sold 42,397 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 8.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 160,881 shares of company stock worth $10,693,244. 0.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KO. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Cfra reiterated a "hold" rating on shares of Coca-Cola in a research report on Thursday, September 5th. Morgan Stanley lowered their price objective 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 lowered their price target on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. Finally, Wells Fargo & Company increased their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, September 16th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $72.36.

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.

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