Mutual of America Capital Management LLC Has $34.28 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Mutual of America Capital Management LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 477,002 shares of the company’s stock after selling 11,375 shares during the period. Coca-Cola accounts for about 0.4% of Mutual of America Capital Management LLC’s holdings, making the stock its 27th biggest position. Mutual of America Capital Management LLC’s holdings in Coca-Cola were worth $34,277,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. New Millennium Group LLC acquired a new stake in Coca-Cola during the second quarter valued at $26,000. Quarry LP acquired a new stake in shares of Coca-Cola during the 2nd quarter valued at about $27,000. Hara Capital LLC bought a new stake in shares of Coca-Cola in the 3rd quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola in the third quarter worth approximately $36,000. Finally, Mount Lucas Management LP bought a new position in Coca-Cola during the second quarter valued at approximately $38,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on KO. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Royal Bank of Canada upped their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. TD Cowen boosted their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Citigroup upped their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Barclays cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were 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 owns 223,330 shares of the company’s stock, valued at $15,968,095. The trade was a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This represents a 35.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 303,748 shares of company stock valued at $20,677,431. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Trading Down 1.3 %

Shares of Coca-Cola stock opened at $61.74 on Friday. The Coca-Cola Company has a 1 year low of $56.70 and a 1 year high of $73.53. The company’s fifty day simple moving average is $68.63 and its 200-day simple moving average is $66.51. The company has a market cap of $265.96 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 3.75 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 posted its quarterly 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. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company 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 $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. Coca-Cola’s dividend payout ratio is currently 80.17%.

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.