The Coca-Cola Company (NYSE:KO) Stock Holdings Trimmed by Toronto Dominion Bank

Toronto Dominion Bank decreased its position in The Coca-Cola Company (NYSE:KO - Free Report) by 14.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,424,555 shares of the company's stock after selling 419,241 shares during the period. Toronto Dominion Bank owned about 0.06% of Coca-Cola worth $174,229,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in KO. New Millennium Group LLC acquired a new stake in Coca-Cola during the 2nd quarter valued at $26,000. Quarry LP acquired a new stake in shares of Coca-Cola during the second quarter valued at $27,000. Hara Capital LLC purchased a new stake in Coca-Cola during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola in the 3rd quarter valued at about $36,000. Finally, Mount Lucas Management LP acquired a new position in Coca-Cola in the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Wells Fargo & Company lowered their target price on shares of Coca-Cola from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday, December 2nd. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a report on Friday, September 27th. Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Finally, Barclays dropped their target price on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $72.14.

Coca-Cola Stock Down 0.5 %

Shares of NYSE:KO traded down $0.34 during midday trading on Wednesday, hitting $62.57. 11,355,330 shares of the company's stock traded hands, compared to its average volume of 13,743,433. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The company has a market cap of $269.54 billion, a PE ratio of 26.22, a P/E/G ratio of 3.80 and a beta of 0.61. 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 firm's fifty day moving average price is $65.85 and its two-hundred day moving average price is $66.62.

Coca-Cola (NYSE:KO - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company's revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.10%. Coca-Cola's payout ratio is currently 80.17%.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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 document filed with the SEC, which is available at the SEC website. Insiders own 0.97% of the company's stock.

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.