Eagle Bay Advisors LLC Has $1.12 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Eagle Bay Advisors LLC cut its position in The Coca-Cola Company (NYSE:KO) by 22.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,913 shares of the company’s stock after selling 5,058 shares during the quarter. Coca-Cola makes up approximately 0.7% of Eagle Bay Advisors LLC’s investment portfolio, making the stock its 28th largest holding. Eagle Bay Advisors LLC’s holdings in Coca-Cola were worth $1,115,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of KO. Quarry LP bought a new stake in Coca-Cola in the 2nd quarter valued at $27,000. Hara Capital LLC bought a new stake in Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the 3rd quarter valued at $36,000. MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola in the 3rd quarter valued at $43,000. Finally, ORG Wealth Partners LLC bought a new stake in Coca-Cola in the 3rd quarter valued at $58,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

KO traded up $0.36 during midday trading on Monday, hitting $61.43. The company had a trading volume of 4,828,541 shares, compared to its average volume of 14,337,031. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company has a market capitalization of $264.63 billion, a PE ratio of 25.38, a P/E/G ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The firm’s 50-day simple moving average is $62.91 and its 200-day simple moving average is $66.50.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 EPS. Equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Friday, November 29th. Coca-Cola’s dividend payout ratio is 80.17%.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The shares were 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 of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. 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 began coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price objective for the company. 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. 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. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $72.60.

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.