Carmichael Hill & Associates Inc. Sells 817 Shares of The Coca-Cola Company (NYSE:KO)

Carmichael Hill & Associates Inc. trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 9.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,560 shares of the company’s stock after selling 817 shares during the quarter. Carmichael Hill & Associates Inc.’s holdings in Coca-Cola were worth $543,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in KO. State of Alaska Department of Revenue boosted its position in shares of Coca-Cola by 4.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock valued at $32,895,000 after acquiring an additional 21,005 shares during the last quarter. Swedbank AB bought a new stake in Coca-Cola during the first quarter valued at approximately $102,604,000. BDF Gestion bought a new stake in Coca-Cola during the second quarter valued at approximately $7,421,000. Nisa Investment Advisors LLC grew its stake in Coca-Cola by 10.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,149,209 shares of the company’s stock worth $83,151,000 after buying an additional 107,374 shares in the last quarter. Finally, Duality Advisers LP increased its holdings in shares of Coca-Cola by 191.1% in the 1st quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock worth $6,843,000 after buying an additional 73,434 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $65.01 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a market cap of $280.05 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 3.97 and a beta of 0.62. The Coca-Cola Company has a 12 month low of $56.06 and a 12 month high of $73.53. The company has a 50-day moving average price of $70.29 and a 200-day moving average price of $66.32.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the company posted $0.74 EPS. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.98%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Royal Bank of Canada boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Citigroup lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.80.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, 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 value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents 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. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 261,870 shares of company stock valued at $18,256,369. 0.97% of the stock is currently owned by company insiders.

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.