Brown Financial Advisors Sells 2,523 Shares of The Coca-Cola Company (NYSE:KO)

Brown Financial Advisors decreased its stake in shares of The Coca-Cola Company (NYSE:KO) by 10.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,634 shares of the company’s stock after selling 2,523 shares during the quarter. Brown Financial Advisors’ holdings in Coca-Cola were worth $1,626,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction 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 directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several recent research reports. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Morgan Stanley cut their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company lowered their target price on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, December 2nd. Finally, Truist Financial increased their target price 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. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $72.14.

Coca-Cola Trading Up 0.2 %

NYSE KO opened at $62.63 on Tuesday. The firm has a market cap of $269.80 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 3.80 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 company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a 50 day moving average price of $66.03 and a 200 day moving average price of $66.61.

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 analysts’ consensus estimates of $0.74 by $0.03. The business 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 business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the company posted $0.74 earnings per share. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

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.