Segment Wealth Management LLC Sells 1,273 Shares of The Coca-Cola Company (NYSE:KO)

Segment Wealth Management LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,164 shares of the company’s stock after selling 1,273 shares during the period. Segment Wealth Management LLC’s holdings in Coca-Cola were worth $1,665,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Swedbank AB purchased a new position in Coca-Cola in the 1st quarter worth about $102,604,000. BDF Gestion bought a new position in Coca-Cola during the second quarter valued at approximately $7,421,000. Duality Advisers LP boosted its holdings in Coca-Cola by 191.1% in 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 during the last quarter. TD Asset Management Inc grew its position in Coca-Cola by 0.7% in the 1st 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 during the period. Finally, New Mexico Educational Retirement Board raised its stake in Coca-Cola by 11.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock valued at $14,013,000 after buying an additional 23,500 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Bank of America upped their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased 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. Finally, Wells Fargo & Company lifted their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Coca-Cola Stock Performance

KO stock opened at $69.45 on Wednesday. The company has a market capitalization of $299.19 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 3.92 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a 1-year low of $54.04 and a 1-year high of $73.53. The business has a 50 day simple moving average of $70.75 and a two-hundred day simple moving average of $65.94.

Coca-Cola (NYSE:KO) last posted its earnings results 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. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same period last year, the company posted $0.78 earnings per share. Coca-Cola’s quarterly revenue was up 3.3% on a year-over-year basis. Research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal 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 given a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.79%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of Coca-Cola stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $66.96, for a total value of $2,530,217.52. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,954,176.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO James Quincey sold 102,533 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 37,787 shares of Coca-Cola stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $66.96, for a total value of $2,530,217.52. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 356,792 shares of company stock valued at $24,728,364. 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.