Mattson Financial Services LLC Reduces Holdings in The Coca-Cola Company (NYSE:KO)

Mattson Financial Services LLC reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,128 shares of the company’s stock after selling 284 shares during the quarter. Coca-Cola comprises approximately 1.0% of Mattson Financial Services LLC’s portfolio, making the stock its 27th largest holding. Mattson Financial Services LLC’s holdings in Coca-Cola were worth $2,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MGO One Seven LLC boosted its holdings in shares of Coca-Cola by 19.2% in the fourth quarter. MGO One Seven LLC now owns 63,025 shares of the company’s stock valued at $3,714,000 after acquiring an additional 10,157 shares during the period. Icon Wealth Advisors LLC acquired a new stake in Coca-Cola during the 4th quarter worth $670,000. Jacobi Capital Management LLC boosted its stake in Coca-Cola by 1.4% during the 4th quarter. Jacobi Capital Management LLC now owns 78,343 shares of the company’s stock worth $4,617,000 after purchasing an additional 1,116 shares during the period. Putnam Investments LLC grew its position in Coca-Cola by 32.8% during the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after purchasing an additional 2,973,234 shares during the last quarter. Finally, Caxton Associates LP raised its holdings in shares of Coca-Cola by 3,032.9% in the fourth quarter. Caxton Associates LP now owns 217,581 shares of the company’s stock valued at $12,822,000 after buying an additional 210,636 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KO. Morgan Stanley boosted their price objective on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Citigroup increased their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Truist Financial lifted their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, TD Cowen boosted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Five equities research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Insiders Place Their Bets

In related news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,507,516.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Insiders sold 376,096 shares of company stock worth $25,982,352 over the last three months. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Performance

Shares of KO opened at $69.16 on Wednesday. The Coca-Cola Company has a 1 year low of $52.11 and a 1 year high of $73.53. The company’s 50 day simple moving average is $70.40 and its 200 day simple moving average is $65.21. The company has a market capitalization of $297.94 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 3.97 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 EPS. On average, sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.81%. Coca-Cola’s dividend payout ratio is presently 77.60%.

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.