Mattson Financial Services LLC Reduces Position in The Coca-Cola Company (NYSE:KO)

Mattson Financial Services LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,128 shares of the company’s stock after selling 284 shares during the quarter. Coca-Cola makes up 1.0% of Mattson Financial Services LLC’s portfolio, making the stock its 27th biggest position. Mattson Financial Services LLC’s holdings in Coca-Cola were worth $2,955,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KO. New Millennium Group LLC purchased a new position in shares of Coca-Cola during the 2nd quarter valued at approximately $26,000. Quarry LP acquired a new stake in Coca-Cola in the second 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 acquired a new position in Coca-Cola during the 1st quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. increased its position in shares of Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business’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 approximately $15,968,095. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 376,096 shares of company stock worth $25,982,352 in the last quarter. 0.97% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on KO. Royal Bank of Canada lifted their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Morgan Stanley boosted their price objective on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, TD Cowen upped their price objective 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $69.16 on Wednesday. The Coca-Cola Company has a 12 month low of $52.11 and a 12 month high of $73.53. The stock has a market cap of $297.94 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 3.97 and a beta of 0.60. The stock’s 50 day moving average price is $70.40 and its 200 day moving average price is $65.21. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

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

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s dividend payout ratio is 77.60%.

About Coca-Cola

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.