The Coca-Cola Company (NYSE:KO) Shares Sold by Sugarloaf Wealth Management LLC

Sugarloaf Wealth Management LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,875 shares of the company’s stock after selling 447 shares during the period. Sugarloaf Wealth Management LLC’s holdings in Coca-Cola were worth $1,285,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of KO. Atomi Financial Group Inc. increased its stake in shares of Coca-Cola by 11.2% in the 3rd quarter. Atomi Financial Group Inc. now owns 26,522 shares of the company’s stock worth $1,906,000 after acquiring an additional 2,678 shares during the last quarter. Traveka Wealth LLC increased its position in Coca-Cola by 5.5% during the third quarter. Traveka Wealth LLC now owns 5,388 shares of the company’s stock worth $387,000 after purchasing an additional 280 shares during the last quarter. Insight Wealth Strategies LLC purchased a new position in Coca-Cola during the third quarter worth about $201,000. ETF Portfolio Partners Inc. acquired a new position in Coca-Cola in the 3rd quarter valued at about $208,000. Finally, Marion Wealth Management grew its stake in shares of Coca-Cola by 11.3% in the 3rd quarter. Marion Wealth Management now owns 5,113 shares of the company’s stock valued at $367,000 after buying an additional 521 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Up 0.2 %

Shares of Coca-Cola stock traded up $0.13 during trading hours on Tuesday, reaching $69.14. 2,693,527 shares of the company were exchanged, compared to its average volume of 13,228,941. The firm has a market cap of $297.85 billion, a PE ratio of 27.61, 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. The Coca-Cola Company has a 1 year low of $52.11 and a 1 year high of $73.53. The stock’s fifty day moving average is $70.40 and its 200 day moving average is $65.21.

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 the consensus estimate of $0.81 by $0.03. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 EPS. As a group, 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 company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.485 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.81%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on KO shares. Citigroup lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. TD Cowen increased their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Bank of America boosted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Truist Financial increased their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Five investment 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lisa Chang sold 58,122 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the sale, the executive vice president now directly owns 74,067 shares in the company, valued at $5,074,330.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 376,096 shares of company stock worth $25,982,352 in the last 90 days. Corporate 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.