SL Advisors LLC Trims Stake in The Coca-Cola Company (NYSE:KO)

SL Advisors LLC lessened its holdings in The Coca-Cola Company (NYSE:KO) by 5.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,995 shares of the company’s stock after selling 216 shares during the quarter. SL Advisors LLC’s holdings in Coca-Cola were worth $249,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of Coca-Cola during the second quarter worth about $27,000. Hara Capital LLC bought a new stake in shares of Coca-Cola in the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola in the 3rd quarter valued at $36,000. MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola during the 3rd quarter valued at $43,000. Finally, ORG Wealth Partners LLC purchased a new position in Coca-Cola in the 3rd quarter worth $58,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.7 %

Shares of NYSE KO traded up $0.45 during midday trading on Wednesday, hitting $61.29. The stock had a trading volume of 6,159,692 shares, compared to its average volume of 13,008,848. The company has a market cap of $264.02 billion, a P/E ratio of 25.33, a PEG ratio of 3.83 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The business’s 50 day moving average is $63.15 and its 200-day moving average is $66.55. 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 quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the company posted $0.74 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. As a group, analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.485 per share. The ex-dividend date was Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.17%. Coca-Cola’s payout ratio is 80.17%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on KO shares. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday. Piper Sandler assumed coverage on Coca-Cola in a report on Tuesday. They issued an “overweight” rating and a $74.00 price objective for the company. Barclays decreased their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $72.60.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.97% of the company’s stock.

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.