Dynamic Technology Lab Private Ltd Trims Stock Position in The Coca-Cola Company (NYSE:KO)

Dynamic Technology Lab Private Ltd decreased its position in The Coca-Cola Company (NYSE:KO) by 7.0% in the third quarter, Holdings Channel reports. The firm owned 9,920 shares of the company’s stock after selling 752 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Coca-Cola were worth $713,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of KO. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Coca-Cola during the third quarter valued at $269,382,000. Manning & Napier Advisors LLC purchased a new position in Coca-Cola during the 2nd quarter valued at about $188,448,000. Pathway Financial Advisers LLC raised its holdings in shares of Coca-Cola by 7,006.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after purchasing an additional 2,443,612 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Coca-Cola by 39.7% in the 3rd quarter. Fisher Asset Management LLC now owns 6,765,669 shares of the company’s stock worth $486,181,000 after purchasing an additional 1,921,241 shares during the period. Finally, Raymond James & Associates boosted its stake in shares of Coca-Cola by 42.6% during the second quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock valued at $397,515,000 after purchasing an additional 1,866,348 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Shares of KO stock opened at $64.43 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 business has a fifty day moving average of $67.22 and a 200 day moving average of $66.56. The firm has a market capitalization of $277.55 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 3.91 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53.

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

Coca-Cola Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.01%. Coca-Cola’s payout ratio is currently 80.17%.

Analyst Ratings Changes

KO has been the subject of a number of analyst reports. Barclays lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Wells Fargo & Company raised their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley reduced their target price 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. Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Finally, Truist Financial boosted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.97% of the stock is currently owned by corporate insiders.

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.