Pitcairn Co. Has $5.45 Million Holdings in The Coca-Cola Company (NYSE:KO)

Pitcairn Co. cut its position in shares of The Coca-Cola Company (NYSE:KO) by 8.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,874 shares of the company’s stock after selling 7,274 shares during the quarter. Pitcairn Co.’s holdings in Coca-Cola were worth $5,452,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Algert Global LLC acquired a new stake in Coca-Cola in the third quarter worth $5,799,000. Kingsview Wealth Management LLC grew its holdings in Coca-Cola by 6.1% in the third quarter. Kingsview Wealth Management LLC now owns 73,185 shares of the company’s stock worth $5,259,000 after purchasing an additional 4,198 shares during the period. Cerity Partners LLC grew its holdings in Coca-Cola by 16.3% in the third quarter. Cerity Partners LLC now owns 932,102 shares of the company’s stock worth $66,996,000 after purchasing an additional 130,626 shares during the period. Great Valley Advisor Group Inc. grew its holdings in Coca-Cola by 4.1% in the third quarter. Great Valley Advisor Group Inc. now owns 49,972 shares of the company’s stock worth $3,591,000 after purchasing an additional 1,960 shares during the period. Finally, Nicolet Advisory Services LLC grew its holdings in Coca-Cola by 1.9% in the third quarter. Nicolet Advisory Services LLC now owns 87,759 shares of the company’s stock worth $6,189,000 after purchasing an additional 1,624 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the business’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 of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,881 shares of company stock valued at $10,693,244. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.2 %

KO opened at $63.92 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company’s 50-day moving average is $67.79 and its 200 day moving average is $66.51. The Coca-Cola Company has a fifty-two week low of $57.47 and a fifty-two week high of $73.53. The firm has a market capitalization of $275.33 billion, a P/E ratio of 26.41, a PEG ratio of 3.87 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The business 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 company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

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 $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.04%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is 80.17%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. 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 shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Truist Financial lifted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Barclays reduced their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Four investment 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $72.36.

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.