Investmark Advisory Group LLC Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

Investmark Advisory Group LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 8.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,091 shares of the company’s stock after selling 483 shares during the quarter. Investmark Advisory Group LLC’s holdings in Coca-Cola were worth $366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $63.50 on Tuesday. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53. 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 firm has a fifty day moving average of $67.07 and a 200-day moving average of $66.61. The company has a market cap of $273.55 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 3.89 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating 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 business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Wall Street Analyst Weigh In

Several research firms have commented on KO. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Barclays reduced their target price 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. Morgan Stanley cut their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Four 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.14.

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.