Infusive Asset Management Inc. Lowers Stake in The Coca-Cola Company (NYSE:KO)

Infusive Asset Management Inc. lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 23.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 83,097 shares of the company’s stock after selling 25,616 shares during the quarter. Coca-Cola accounts for 2.5% of Infusive Asset Management Inc.’s investment portfolio, making the stock its 17th biggest position. Infusive Asset Management Inc.’s holdings in Coca-Cola were worth $5,971,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in KO. New Millennium Group LLC purchased a new position in Coca-Cola in the 2nd quarter worth $26,000. Quarry LP purchased a new position in Coca-Cola in the second quarter worth about $27,000. Hara Capital LLC purchased a new position in Coca-Cola in the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola in the third quarter worth about $36,000. Finally, Mount Lucas Management LP purchased a new position in shares of Coca-Cola during the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.97% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on KO. Barclays cut their target price 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. Truist Financial upped their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley dropped their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Four 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Price Performance

Shares of NYSE KO opened at $64.43 on Friday. The stock’s 50-day moving average is $67.22 and its two-hundred day moving average is $66.56. The company has a market cap of $277.55 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 3.91 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $57.47 and a 1-year high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (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 firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the firm earned $0.74 EPS. The business’s revenue was down .8% on a year-over-year basis. Analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.01%. Coca-Cola’s payout ratio is 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.