Banque Cantonale Vaudoise Sells 76,577 Shares of The Coca-Cola Company (NYSE:KO)

Banque Cantonale Vaudoise cut its position in The Coca-Cola Company (NYSE:KO) by 17.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 373,460 shares of the company’s stock after selling 76,577 shares during the period. Coca-Cola makes up 1.1% of Banque Cantonale Vaudoise’s holdings, making the stock its 9th largest position. Banque Cantonale Vaudoise’s holdings in Coca-Cola were worth $26,835,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Harvest Portfolios Group Inc. acquired a new stake in Coca-Cola during the third quarter worth about $18,383,000. Balentine LLC grew its holdings in Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after acquiring an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC grew its holdings in Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after acquiring an additional 59,503 shares during the period. CIBC Asset Management Inc grew its holdings in Coca-Cola by 5.8% during the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after acquiring an additional 46,541 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in Coca-Cola by 4.8% during the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after acquiring an additional 21,005 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Price Performance

NYSE:KO opened at $61.85 on Tuesday. The stock has a 50 day moving average price of $68.43 and a 200 day moving average price of $66.54. The stock has a market cap of $266.44 billion, a PE ratio of 25.56, a P/E/G ratio of 3.75 and a beta of 0.61. 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 one year low of $56.96 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for 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 company’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. Equities research analysts expect 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. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.14%. Coca-Cola’s payout ratio is 80.17%.

Insider Buying and Selling at Coca-Cola

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 transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The trade was a 18.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 303,748 shares of company stock worth $20,677,431 in the last ninety days. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

KO has been the topic of several research analyst reports. Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft increased their price objective 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. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Royal Bank of Canada upped their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $72.36.

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.