Northstar Group Inc. Sells 193 Shares of The Coca-Cola Company (NYSE:KO)

Northstar Group Inc. lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,025 shares of the company’s stock after selling 193 shares during the period. Northstar Group Inc.’s holdings in Coca-Cola were worth $2,517,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake 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 valued at $3,016,023,000 after buying an additional 8,733,326 shares during the last quarter. Legal & General Group Plc grew its position 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 valued at $2,463,373,000 after purchasing an additional 1,084,475 shares during the last quarter. Truist Financial Corp grew its position in Coca-Cola by 1.1% during 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 last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Coca-Cola by 30.5% during 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 purchasing an additional 2,964,850 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Coca-Cola by 15.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock worth $638,344,000 after acquiring an additional 1,417,930 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of KO stock traded down $0.01 on Thursday, reaching $69.56. The company’s stock had a trading volume of 644,700 shares, compared to its average volume of 13,198,741. The company has a market capitalization of $299.66 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The stock’s fifty day simple moving average is $70.48 and its 200-day simple moving average is $65.30. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 1 year low of $52.43 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 EPS. Analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders 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 annualized dividend and a dividend yield of 2.79%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Truist Financial raised their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. TD Cowen upped their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, 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. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $71.07.

Insider Activity

In related news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’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 directly owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 42,397 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 376,096 shares of company stock valued at $25,982,352. 0.97% of the stock is currently owned by insiders.

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.