Arthur M. Cohen & Associates LLC Sells 420 Shares of The Coca-Cola Company (NYSE:KO)

Arthur M. Cohen & Associates LLC trimmed its stake in The Coca-Cola Company (NYSE:KO) by 10.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,725 shares of the company’s stock after selling 420 shares during the quarter. Arthur M. Cohen & Associates LLC’s holdings in Coca-Cola were worth $267,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings 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 valued at $3,016,023,000 after purchasing an additional 8,733,326 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Coca-Cola by 2.9% during the second 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 in the last quarter. Truist Financial Corp lifted its holdings in shares of Coca-Cola by 1.1% during the second 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Coca-Cola by 30.5% during 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 in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Coca-Cola by 15.7% during the first quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock valued at $638,344,000 after purchasing an additional 1,417,930 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on KO shares. Morgan Stanley lowered their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. 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 report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft increased their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Company increased their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 102,533 shares of the stock in a transaction that occurred 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 approximately $30,987,070.92. The trade was 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 sold 203,748 shares of company stock worth $14,274,431. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Performance

KO traded down $0.20 during midday trading on Tuesday, reaching $64.91. The company had a trading volume of 885,442 shares, compared to its average volume of 13,188,194. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 1 year low of $56.06 and a 1 year high of $73.53. The business has a 50-day moving average of $70.18 and a two-hundred day moving average of $66.41. The company has a market cap of $279.62 billion, a P/E ratio of 26.90, a P/E/G ratio of 3.95 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter last year, the business posted $0.74 earnings per share. The firm’s revenue was down .8% on a year-over-year basis. As a group, equities research analysts predict 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 will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

Coca-Cola Company 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.