Middleton & Co. Inc. MA Sells 500 Shares of The Coca-Cola Company (NYSE:KO)

Middleton & Co. Inc. MA lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,825 shares of the company’s stock after selling 500 shares during the period. Middleton & Co. Inc. MA’s holdings in Coca-Cola were worth $634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Coca-Cola by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after purchasing an additional 2,964,850 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in Coca-Cola in the second quarter worth $188,448,000. M&G Plc bought a new stake in Coca-Cola in the first quarter worth $157,087,000. Finally, Raymond James & Associates increased its position in Coca-Cola by 42.6% in the second quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock worth $397,515,000 after purchasing an additional 1,866,348 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. TD Cowen boosted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada boosted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Morgan Stanley cut their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Wells Fargo & Company boosted their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Five investment 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 stock. According to MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $71.80.

Coca-Cola Stock Down 0.6 %

Shares of KO opened at $66.92 on Friday. The firm has a market capitalization of $288.42 billion, a P/E ratio of 27.09, a P/E/G ratio of 3.91 and a beta of 0.60. The Coca-Cola Company has a 12-month low of $55.10 and a 12-month high of $73.53. 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 firm has a fifty day moving average price of $70.66 and a 200-day moving average price of $66.02.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 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 $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. Equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 78.54%.

Insider Buying and Selling

In related news, CEO James Quincey sold 102,533 shares of the company’s 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 sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the business’s 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 directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the business’s 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 disclosure for this sale can be found here. Insiders sold a total of 319,005 shares of company stock valued at $22,198,147 over the last three months. 0.97% of the stock is owned by company insiders.

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.