Integrated Wealth Concepts LLC Sells 7,525 Shares of The Coca-Cola Company (NYSE:KO)

Integrated Wealth Concepts LLC trimmed its stake in The Coca-Cola Company (NYSE:KO) by 6.3% during the third quarter, Holdings Channel reports. The fund owned 112,436 shares of the company’s stock after selling 7,525 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Coca-Cola were worth $8,080,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Guinness Asset Management LTD boosted its stake in Coca-Cola by 25.9% during the 2nd quarter. Guinness Asset Management LTD now owns 2,927,991 shares of the company’s stock valued at $186,388,000 after purchasing an additional 601,696 shares during the period. Butensky & Cohen Financial Security Inc. boosted its position in shares of Coca-Cola by 0.7% in the second quarter. Butensky & Cohen Financial Security Inc. now owns 70,332 shares of the company’s stock valued at $4,477,000 after acquiring an additional 486 shares during the period. CX Institutional grew its stake in shares of Coca-Cola by 1.3% in the second quarter. CX Institutional now owns 94,316 shares of the company’s stock worth $6,003,000 after acquiring an additional 1,254 shares during the last quarter. Prentice Wealth Management LLC increased its position in Coca-Cola by 2.3% during the second quarter. Prentice Wealth Management LLC now owns 9,240 shares of the company’s stock worth $588,000 after acquiring an additional 211 shares during the period. Finally, Jamison Private Wealth Management Inc. raised its stake in Coca-Cola by 3.9% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 143,346 shares of the company’s stock valued at $9,124,000 after purchasing an additional 5,378 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock opened at $63.53 on Wednesday. The business’s fifty day moving average is $66.75 and its two-hundred day moving average is $66.61. 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 firm has a market cap of $273.67 billion, a P/E ratio of 26.25, a P/E/G ratio of 3.87 and a beta of 0.61. The Coca-Cola Company has a 52 week low of $57.47 and a 52 week high of $73.53.

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

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.05%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is 80.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KO. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Morgan Stanley cut their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company lowered their price objective on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday. Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.14.

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.