Exeter Financial LLC Sells 1,602 Shares of The Coca-Cola Company (NYSE:KO)

Exeter Financial LLC reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 5.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 26,661 shares of the company’s stock after selling 1,602 shares during the quarter. Exeter Financial LLC’s holdings in Coca-Cola were worth $1,660,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Coca-Cola in the second quarter valued at about $27,000. Hara Capital LLC acquired a new position in shares of Coca-Cola during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola in the 3rd quarter valued at about $36,000. MidAtlantic Capital Management Inc. bought a new position in Coca-Cola during the 3rd quarter worth approximately $43,000. Finally, ORG Wealth Partners LLC acquired a new position in Coca-Cola during the third quarter valued at approximately $58,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 1.0 %

Shares of NYSE:KO opened at $61.68 on Tuesday. The company’s 50-day moving average price is $62.84 and its two-hundred day moving average price is $66.48. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock has a market capitalization of $265.70 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61.

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

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.485 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.15%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Barclays cut their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Finally, Piper Sandler assumed coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 target price on the stock. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.60.

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.