The Coca-Cola Company (NYSE:KO) Position Lessened by RMR Wealth Builders

RMR Wealth Builders lowered its holdings in shares of The Coca-Cola Company (NYSE:KO) by 47.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,320 shares of the company’s stock after selling 17,529 shares during the quarter. RMR Wealth Builders’ holdings in Coca-Cola were worth $1,203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in KO. Quarry LP acquired a new stake in shares of Coca-Cola in the second quarter worth $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the third quarter valued at about $36,000. MidAtlantic Capital Management Inc. bought a new position in Coca-Cola during the third quarter worth about $43,000. Finally, ORG Wealth Partners LLC acquired a new stake in Coca-Cola during the third quarter valued at approximately $58,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 1.2 %

Shares of Coca-Cola stock traded down $0.73 during trading hours on Friday, reaching $60.98. The company’s stock had a trading volume of 22,417,773 shares, compared to its average volume of 15,975,237. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company has a market capitalization of $262.69 billion, a P/E ratio of 25.20, a P/E/G ratio of 3.83 and a beta of 0.61. The stock’s fifty day simple moving average is $62.99 and its two-hundred day simple moving average is $66.48. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO) last released 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. The firm 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 was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 EPS. On average, research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.18%. The ex-dividend date was Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Morgan Stanley dropped their target price 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. Truist Financial increased their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays lowered their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Piper Sandler started coverage on shares of Coca-Cola in a report on Tuesday. They set an “overweight” rating and a $74.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.60.

Insider Buying and Selling at Coca-Cola

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 completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.97% of the company’s stock.

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.