The Coca-Cola Company (NYSE:KO) Shares Sold by Graves Light Lenhart Wealth Inc.

Graves Light Lenhart Wealth Inc. reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,372 shares of the company’s stock after selling 200 shares during the period. Graves Light Lenhart Wealth Inc.’s holdings in Coca-Cola were worth $584,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP acquired a new stake in Coca-Cola in the second quarter valued at $27,000. Hara Capital LLC purchased a new position in Coca-Cola during the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola during the 3rd quarter valued at about $36,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola in the third quarter valued at about $43,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Coca-Cola in the third quarter valued at about $58,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

KO stock opened at $61.68 on Tuesday. The stock’s 50 day simple moving average is $62.84 and its 200 day simple moving average is $66.48. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The firm has a market cap of $265.70 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.83 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. As a group, equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on KO shares. Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Barclays reduced their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $72.60.

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.