The Coca-Cola Company (NYSE:KO) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 615,962 shares of the company’s stock after selling 7,587 shares during the quarter. Coca-Cola accounts for 2.0% of Alpha Cubed Investments LLC’s portfolio, making the stock its 19th largest position. Alpha Cubed Investments LLC’s holdings in Coca-Cola were worth $44,263,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of KO. Price T Rowe Associates Inc. MD lifted its position in shares of 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 purchasing an additional 8,733,326 shares during the last quarter. Fisher Asset Management LLC raised its stake in Coca-Cola by 11,127.2% during the fourth quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock valued at $293,043,000 after buying an additional 4,928,441 shares in the last quarter. Pathstone Holdings LLC bought a new position in Coca-Cola during the 4th quarter worth approximately $193,342,000. Putnam Investments LLC grew its position in shares of Coca-Cola by 32.8% in the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after acquiring an additional 2,973,234 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Coca-Cola by 30.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after acquiring an additional 2,964,850 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In related news, insider Bruno Pietracci sold 38,653 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nancy Quan sold 37,787 shares of Coca-Cola stock in a transaction dated 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 transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,954,176.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 376,096 shares of company stock valued at $25,982,352. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Down 1.7 %

KO stock opened at $69.01 on Tuesday. The firm’s 50-day moving average is $70.35 and its two-hundred day moving average is $65.15. The company has a market capitalization of $297.29 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The Coca-Cola Company has a 52 week low of $52.11 and a 52 week high of $73.53. 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 released 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 firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Friday, September 13th. Coca-Cola’s payout ratio is currently 77.60%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KO shares. Morgan Stanley raised their price objective on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Wells Fargo & Company raised their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Truist Financial boosted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Barclays upped their target price on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average 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.