SS&H Financial Advisors Inc. Sells 2,500 Shares of The Coca-Cola Company (NYSE:KO)

SS&H Financial Advisors Inc. lowered its position in The Coca-Cola Company (NYSE:KO) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,556 shares of the company’s stock after selling 2,500 shares during the period. Coca-Cola comprises 1.0% of SS&H Financial Advisors Inc.’s holdings, making the stock its 23rd largest position. SS&H Financial Advisors Inc.’s holdings in Coca-Cola were worth $2,842,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in KO. Price T Rowe Associates Inc. MD boosted its holdings in shares of Coca-Cola by 21.5% in the first 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 buying an additional 8,733,326 shares during the period. Legal & General Group Plc increased its holdings in Coca-Cola by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after purchasing an additional 1,084,475 shares in the last quarter. Truist Financial Corp raised its stake in shares of Coca-Cola by 1.1% in the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock valued at $1,041,479,000 after purchasing an additional 177,241 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Coca-Cola by 30.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after buying an additional 2,964,850 shares during the period. 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 buying an additional 1,417,930 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Royal Bank of Canada raised their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Wells Fargo & Company upped their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Barclays raised their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research note 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 given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.07.

Insider Activity

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Nancy Quan sold 18,484 shares of the company’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 transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 376,096 shares of company stock worth $25,982,352. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Performance

NYSE:KO traded down $0.29 during mid-day trading on Thursday, hitting $69.28. 2,283,103 shares of the stock were exchanged, compared to its average volume of 13,205,970. The firm’s 50-day simple moving average is $70.48 and its 200 day simple moving average is $65.30. The stock has a market capitalization of $298.46 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The Coca-Cola Company has a fifty-two week low of $52.43 and a fifty-two week high of $73.53. 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 posted its 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. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $0.485 per share. The ex-dividend date was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.80%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

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.