Accent Capital Management LLC Sells 9,901 Shares of The Coca-Cola Company (NYSE:KO)

Accent Capital Management LLC trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 63.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,595 shares of the company’s stock after selling 9,901 shares during the period. Accent Capital Management LLC’s holdings in Coca-Cola were worth $405,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of KO. Edgestream Partners L.P. lifted its position in Coca-Cola by 46.2% during the 1st quarter. Edgestream Partners L.P. now owns 43,301 shares of the company’s stock valued at $2,649,000 after purchasing an additional 13,675 shares during the period. Catalytic Wealth RIA LLC bought a new stake in shares of Coca-Cola during the first quarter worth approximately $733,000. Covestor Ltd lifted its holdings in Coca-Cola by 19.8% in the first quarter. Covestor Ltd now owns 3,912 shares of the company’s stock valued at $239,000 after buying an additional 646 shares during the period. Davis R M Inc. boosted its stake in Coca-Cola by 14.2% in the first quarter. Davis R M Inc. now owns 19,878 shares of the company’s stock valued at $1,216,000 after acquiring an additional 2,473 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its holdings in Coca-Cola by 0.7% during the 1st quarter. Bahl & Gaynor Inc. now owns 1,561,987 shares of the company’s stock worth $95,562,000 after acquiring an additional 10,826 shares during the period. 70.26% of the stock is owned by institutional investors.

Insider Activity

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction on 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 $15,968,095. This trade represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 18.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 303,748 shares of company stock worth $20,677,431 in the last quarter. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 1.3 %

NYSE:KO opened at $61.74 on Friday. The company has a market cap of $265.96 billion, a PE ratio of 25.51, a PEG ratio of 3.75 and a beta of 0.61. The stock has a 50-day simple moving average of $68.63 and a 200 day simple moving average of $66.51. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a 52-week low of $56.70 and a 52-week high of $73.53.

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

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. 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 3.14%. Coca-Cola’s dividend payout ratio is 80.17%.

Analyst Ratings Changes

Several research analysts have recently issued reports on KO shares. Wells Fargo & Company raised their price target on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley decreased their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Truist Financial upped their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Citigroup lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $72.36.

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.