Neville Rodie & Shaw Inc. Decreases Stock Position in The Coca-Cola Company (NYSE:KO)

Neville Rodie & Shaw Inc. cut its position in The Coca-Cola Company (NYSE:KO) by 0.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 53,275 shares of the company’s stock after selling 145 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Coca-Cola were worth $3,828,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in KO. New Millennium Group LLC bought a new position in Coca-Cola during the 2nd quarter valued at $26,000. Quarry LP bought a new position in Coca-Cola during the 2nd quarter valued at $27,000. Redmont Wealth Advisors LLC bought a new position in Coca-Cola during the 1st quarter valued at $28,000. ESL Trust Services LLC bought a new position in Coca-Cola during the 1st quarter valued at $28,000. Finally, DiNuzzo Private Wealth Inc. boosted its stake in Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after acquiring an additional 206 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Truist Financial increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. BNP Paribas started coverage on shares of Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.07.

Coca-Cola Stock Down 1.0 %

Coca-Cola stock opened at $71.01 on Thursday. The stock has a market cap of $305.91 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 3.97 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The company’s 50-day moving average price is $70.20 and its two-hundred day moving average price is $64.98. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.78 EPS. On average, analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.73%. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,507,516.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 974,715 shares of company stock valued at $579,704,927. Company insiders own 0.97% of the company’s stock.

Coca-Cola Company 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.