Rockefeller Capital Management L.P. Sells 189,637 Shares of The Coca-Cola Company (NYSE:KO)

Rockefeller Capital Management L.P. decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 9.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,806,608 shares of the company’s stock after selling 189,637 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Coca-Cola were worth $129,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of KO. FMR LLC raised its stake in Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Coca-Cola during the 3rd quarter worth approximately $269,382,000. Manning & Napier Advisors LLC bought a new position in Coca-Cola in the second quarter valued at approximately $188,448,000. Pathway Financial Advisers LLC raised its position in Coca-Cola by 7,006.8% during the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after purchasing an additional 2,443,612 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Coca-Cola by 39.7% during the third quarter. Fisher Asset Management LLC now owns 6,765,669 shares of the company’s stock worth $486,181,000 after purchasing an additional 1,921,241 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on KO. Wells Fargo & Company upped their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Morgan Stanley lowered their price objective 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. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.36.

Insiders Place Their Bets

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

Coca-Cola Price Performance

Shares of NYSE KO opened at $64.43 on Friday. 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’s 50-day moving average price is $67.22 and its 200-day moving average price is $66.56. The firm has a market capitalization of $277.55 billion, a P/E ratio of 26.62, a P/E/G ratio of 3.91 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $57.47 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. Equities research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.01%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

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.