Marotta Asset Management Has $493,000 Position in The Coca-Cola Company (NYSE:KO)

Marotta Asset Management cut its stake in The Coca-Cola Company (NYSE:KO) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,866 shares of the company’s stock after selling 170 shares during the quarter. Marotta Asset Management’s holdings in Coca-Cola were worth $493,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of KO. Price T Rowe Associates Inc. MD increased its position in Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after buying an additional 8,733,326 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Coca-Cola by 11,127.2% in the 4th quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock worth $293,043,000 after purchasing an additional 4,928,441 shares during the last quarter. Pathstone Holdings LLC bought a new stake in Coca-Cola during the fourth quarter worth approximately $193,342,000. Putnam Investments LLC grew its holdings in Coca-Cola by 32.8% during the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after purchasing an additional 2,973,234 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Coca-Cola by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after purchasing an additional 2,964,850 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

NYSE:KO opened at $70.50 on Friday. The stock has a market capitalization of $303.71 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $73.53. The firm has a 50 day moving average of $70.29 and a 200-day moving average of $65.02. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating 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 analyst estimates of $11.78 billion. During the same period last year, the company posted $0.78 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.75%. Coca-Cola’s payout ratio is 77.60%.

Insider Activity

In other news, EVP Nancy Quan sold 37,787 shares of Coca-Cola stock in a transaction on Friday, July 26th. The stock was sold at an average price of $66.96, for a total value of $2,530,217.52. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Nancy Quan sold 37,787 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $66.96, for a total value of $2,530,217.52. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $2,667,443.53. The disclosure for this sale can be found here. Insiders have sold 376,096 shares of company stock valued at $25,982,352 over the last three months. 0.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KO. Truist Financial raised their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. TD Cowen upped 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. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Bank of America increased their price target 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. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

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.