Boston Trust Walden Corp Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

Boston Trust Walden Corp cut its holdings in The Coca-Cola Company (NYSE:KO) by 0.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,613 shares of the company’s stock after selling 180 shares during the quarter. Boston Trust Walden Corp’s holdings in Coca-Cola were worth $2,775,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Swedbank AB purchased a new stake in shares of Coca-Cola during the first quarter worth approximately $102,604,000. BDF Gestion purchased a new stake in shares of Coca-Cola during the second quarter worth approximately $7,421,000. Duality Advisers LP increased its position in shares of Coca-Cola by 191.1% during the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock worth $6,843,000 after purchasing an additional 73,434 shares in the last quarter. TD Asset Management Inc increased its position in shares of Coca-Cola by 0.7% during the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock worth $179,578,000 after purchasing an additional 20,048 shares in the last quarter. Finally, Guinness Asset Management LTD increased its position in shares of Coca-Cola by 4.6% during the third quarter. Guinness Asset Management LTD now owns 3,062,037 shares of the company’s stock worth $220,011,000 after purchasing an additional 134,046 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 319,005 shares of company stock valued at $22,198,147. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the subject of several research reports. Barclays dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday. Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Finally, Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.80.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $66.92 on Monday. The Coca-Cola Company has a 52 week low of $55.10 and a 52 week high of $73.53. The business’s fifty day simple moving average is $70.66 and its 200-day simple moving average is $66.11. The firm has a market cap of $288.29 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 3.91 and a beta of 0.60. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last posted its earnings results 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 43.62% and a net margin of 22.92%. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the company earned $0.74 EPS. Coca-Cola’s revenue was down .8% on a year-over-year basis. Equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 77.60%.

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.