Landscape Capital Management L.L.C. Lowers Stake in The Coca-Cola Company (NYSE:KO)

Landscape Capital Management L.L.C. cut its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 89.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,939 shares of the company's stock after selling 100,389 shares during the period. Landscape Capital Management L.L.C.'s holdings in Coca-Cola were worth $858,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. New Millennium Group LLC bought a new stake in Coca-Cola in the 2nd quarter worth about $26,000. Quarry LP purchased a new position in Coca-Cola in the second quarter valued at about $27,000. Hara Capital LLC purchased a new position in Coca-Cola in the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola in the third quarter valued at about $36,000. Finally, Mount Lucas Management LP purchased a new position in Coca-Cola in the second quarter valued at about $38,000. 70.26% of the stock is owned by institutional investors.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 42,397 shares of the firm's stock in a transaction on Monday, August 26th. The shares were 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 of the company's stock, valued at $30,987,070.92. This trade represents a 8.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the firm's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 160,881 shares of company stock valued at $10,693,244 in the last quarter. Insiders own 0.97% of the company's stock.

Coca-Cola Price Performance

Shares of NYSE:KO traded up $0.16 during trading on Friday, reaching $63.92. The company had a trading volume of 19,562,231 shares, compared to its average volume of 15,164,770. The company has a fifty day moving average of $67.79 and a two-hundred day moving average of $66.51. The stock has a market capitalization of $275.35 billion, a P/E ratio of 26.41, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $57.47 and a 12 month 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.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.03. The firm 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%. The business's revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 EPS. Equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Friday, November 29th. Coca-Cola's payout ratio is 80.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. 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. Hsbc Global Res upgraded shares of Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Barclays dropped their price target on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company upped their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, September 16th. Finally, Cfra restated a "hold" rating on shares of Coca-Cola in a research note on Thursday, September 5th. Four research 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 stock. According to MarketBeat.com, Coca-Cola presently has a consensus rating of "Moderate Buy" and an average target price of $72.36.

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.