Ascent Group LLC Sells 9,817 Shares of The Coca-Cola Company (NYSE:KO)

Ascent Group LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 11.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,030 shares of the company’s stock after selling 9,817 shares during the period. Ascent Group LLC’s holdings in Coca-Cola were worth $5,464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Apella Capital LLC grew its holdings in shares of Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after purchasing an additional 146 shares during the last quarter. Investment Advisory Group LLC grew its stake in Coca-Cola by 4.5% during the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after buying an additional 146 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC increased its position in Coca-Cola by 2.2% during the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after buying an additional 149 shares during the period. CCG Wealth Management LLC lifted its stake in Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after buying an additional 149 shares during the last quarter. Finally, Investment Partners Asset Management Inc. boosted its holdings in shares of Coca-Cola by 2.2% in the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.5 %

Shares of NYSE KO opened at $64.08 on Monday. The stock has a market capitalization of $276.04 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 3.89 and a beta of 0.61. The Coca-Cola Company has a 52 week low of $57.47 and a 52 week high of $73.53. The firm has a 50-day moving average price of $67.07 and a 200 day moving average price of $66.61. The company has a quick ratio of 0.90, a current ratio of 1.06 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, beating analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate 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 period last year, the firm earned $0.74 EPS. Equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.03%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Analysts Set New Price Targets

KO has been the topic of a number of recent research reports. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Barclays dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $72.36.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.97% of the company’s stock.

Coca-Cola Company 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.