The Coca-Cola Company (NYSE:KO) Shares Sold by Bank of Hawaii

Bank of Hawaii lowered its stake in The Coca-Cola Company (NYSE:KO) by 9.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,165 shares of the company’s stock after selling 5,795 shares during the quarter. Bank of Hawaii’s holdings in Coca-Cola were worth $4,108,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mount Yale Investment Advisors LLC boosted its stake in Coca-Cola by 33.0% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 12,534 shares of the company’s stock valued at $767,000 after acquiring an additional 3,111 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in shares of Coca-Cola by 0.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 428,062 shares of the company’s stock worth $26,189,000 after acquiring an additional 3,008 shares during the last quarter. Ilex Capital Partners UK LLP lifted its stake in shares of Coca-Cola by 117.3% in the 1st quarter. Ilex Capital Partners UK LLP now owns 1,874,536 shares of the company’s stock worth $114,684,000 after acquiring an additional 1,011,956 shares during the period. Prudent Investors Network Inc. acquired a new position in shares of Coca-Cola during the first quarter valued at approximately $6,604,000. Finally, Ancora Advisors LLC increased its position in shares of Coca-Cola by 8.0% during the 1st quarter. Ancora Advisors LLC now owns 46,528 shares of the company’s stock valued at $2,847,000 after purchasing an additional 3,435 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

KO has been the topic of several recent research reports. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Morgan Stanley reduced their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Barclays reduced their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company increased their target price 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. Finally, Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Four 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.36.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola 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 sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

NYSE KO opened at $63.92 on Monday. The stock has a 50-day simple moving average of $67.79 and a 200 day simple moving average of $66.57. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The stock has a market capitalization of $275.35 billion, a PE ratio of 26.41, a P/E/G ratio of 3.88 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 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 company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the business posted $0.74 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. Research 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. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

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.