Royal Fund Management LLC Sells 5,369 Shares of The Coca-Cola Company (NYSE:KO)

Royal Fund Management LLC lowered its stake in The Coca-Cola Company (NYSE:KO) by 17.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,180 shares of the company’s stock after selling 5,369 shares during the quarter. Royal Fund Management LLC’s holdings in Coca-Cola were worth $1,814,000 as of its most recent SEC filing.

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

Coca-Cola Stock Up 0.6 %

NYSE:KO traded up $0.42 during mid-day trading on Wednesday, hitting $69.60. 325,427 shares of the company’s stock traded hands, compared to its average volume of 13,218,442. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The company has a market capitalization of $299.83 billion, a P/E ratio of 27.66, a P/E/G ratio of 3.97 and a beta of 0.60. The company has a fifty day moving average of $70.43 and a 200 day moving average of $65.27. The Coca-Cola Company has a twelve month low of $52.43 and a twelve month high of $73.53.

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

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.485 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.79%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insiders Place Their Bets

In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 376,096 shares of company stock valued at $25,982,352. 0.97% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on KO shares. Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Royal Bank of Canada boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Truist Financial boosted their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, TD Cowen increased their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Five research 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.

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.