Pallas Capital Advisors LLC Trims Stake in The Coca-Cola Company (NYSE:KO)

Pallas Capital Advisors LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 0.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 137,491 shares of the company’s stock after selling 926 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Coca-Cola were worth $8,560,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. FMR LLC lifted its holdings in Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares during the period. Wellington Management Group LLP lifted its position in shares of Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after buying an additional 4,013,996 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Coca-Cola in the 3rd quarter worth approximately $269,382,000. Geode Capital Management LLC boosted its holdings in shares of Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after acquiring an additional 2,966,964 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its position in shares of Coca-Cola by 7,006.8% during the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after acquiring an additional 2,443,612 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Truist Financial raised their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Piper Sandler initiated coverage on Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 target price for the company. Morgan Stanley lowered their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.60.

Coca-Cola Trading Up 1.0 %

KO traded up $0.61 during trading on Monday, hitting $61.68. 18,000,721 shares of the company’s stock were exchanged, compared to its average volume of 16,123,142. The stock has a 50 day moving average price of $62.91 and a 200 day moving average price of $66.50. The firm has a market cap of $265.70 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. 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 released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS 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 firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The firm’s revenue was down .8% on a year-over-year basis. As a group, analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

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

Insider Buying and Selling at Coca-Cola

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 transaction, 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 is accessible through this link. Insiders own 0.97% of the company’s stock.

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.