Castleview Partners LLC Reduces Position in The Coca-Cola Company (NYSE:KO)

Castleview Partners LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 5.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,321 shares of the company’s stock after selling 255 shares during the period. Castleview Partners LLC’s holdings in Coca-Cola were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in shares of Coca-Cola during the 1st quarter valued at $162,000. Global Assets Advisory LLC bought a new position in shares of Coca-Cola in the first quarter valued at approximately $18,476,000. Austin Private Wealth LLC grew its stake in Coca-Cola by 12.0% during the first quarter. Austin Private Wealth LLC now owns 4,716 shares of the company’s stock valued at $282,000 after acquiring an additional 505 shares in the last quarter. Annex Advisory Services LLC increased its holdings in Coca-Cola by 3.6% during the 1st quarter. Annex Advisory Services LLC now owns 6,322 shares of the company’s stock worth $387,000 after acquiring an additional 222 shares during the period. Finally, Riverview Trust Co purchased a new stake in Coca-Cola in the 1st quarter worth approximately $102,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays upped their price target on shares of Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Morgan Stanley raised their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Finally, Royal Bank of Canada boosted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $72.00.

Coca-Cola Trading Down 1.3 %

Coca-Cola stock traded down $0.89 during trading hours on Monday, reaching $69.55. The company had a trading volume of 5,502,489 shares, compared to its average volume of 13,126,046. The firm has a market cap of $299.62 billion, a price-to-earnings ratio of 27.90, a P/E/G ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 12-month low of $54.04 and a 12-month high of $73.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The company has a 50-day moving average price of $70.70 and a 200 day moving average price of $65.80.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) 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 analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. Equities 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Activity

In other news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 owns 223,330 shares in the company, valued at $15,968,095. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James Quincey sold 42,397 shares of Coca-Cola stock in a transaction on Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 356,792 shares of company stock worth $24,728,364 in the last quarter. 0.97% of the stock is owned by company 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.