Oppenheimer & Co. Inc. Sells 13,042 Shares of The Coca-Cola Company (NYSE:KO)

Oppenheimer & Co. Inc. decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 8.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 149,658 shares of the company’s stock after selling 13,042 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Coca-Cola were worth $10,754,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in Coca-Cola by 21.5% during 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 period. Manning & Napier Advisors LLC bought a new position in shares of Coca-Cola during the 2nd quarter worth approximately $188,448,000. M&G Plc acquired a new stake in Coca-Cola in the 1st quarter valued at $157,087,000. Pathway Financial Advisers LLC grew its position in Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after acquiring an additional 2,443,612 shares during the period. Finally, Raymond James & Associates raised its stake in Coca-Cola by 42.6% during the second quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock worth $397,515,000 after acquiring an additional 1,866,348 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Nancy Quan sold 18,484 shares of Coca-Cola 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 in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 303,748 shares of company stock valued at $20,677,431. 0.97% of the stock is owned by company insiders.

Analyst Ratings Changes

KO has been the subject of a number of recent analyst reports. Morgan Stanley dropped their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company raised their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. TD Cowen upped their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $72.36.

Coca-Cola Price Performance

Coca-Cola stock opened at $63.02 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $271.48 billion, a P/E ratio of 26.04, a PEG ratio of 3.84 and a beta of 0.61. The business has a 50-day moving average of $69.18 and a 200-day moving average of $66.53. The Coca-Cola Company has a 1 year low of $56.70 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.74 earnings per share. On average, equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed 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. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

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.