The Coca-Cola Company (NYSE:KO) Shares Sold by Westmount Partners LLC

Westmount Partners LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,359 shares of the company’s stock after selling 452 shares during the period. Westmount Partners LLC’s holdings in Coca-Cola were worth $894,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Apella Capital LLC boosted its position in Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after purchasing an additional 146 shares during the last quarter. Investment Advisory Group LLC lifted its holdings in shares of Coca-Cola by 4.5% during the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after buying an additional 146 shares during the last quarter. CCG Wealth Management LLC grew its stake in shares of Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after buying an additional 149 shares in the last quarter. Investment Partners Asset Management Inc. grew its position in Coca-Cola by 2.2% in the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after acquiring an additional 150 shares in the last quarter. Finally, Chapin Davis Inc. increased its position in Coca-Cola by 1.0% during the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock worth $1,100,000 after buying an additional 153 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

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 value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through the SEC website. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KO. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Morgan Stanley dropped their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Barclays cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Truist Financial upped their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $72.60.

Coca-Cola Price Performance

Shares of KO stock traded up $0.65 during trading hours on Monday, hitting $61.72. 8,269,599 shares of the company’s stock were exchanged, compared to its average volume of 14,838,826. The stock’s 50-day moving average is $62.91 and its 200-day moving average is $66.50. 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 cap of $265.88 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53.

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

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

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.