Accurate Wealth Management LLC Sells 663 Shares of The Coca-Cola Company (NYSE:KO)

Accurate Wealth Management LLC lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,296 shares of the company’s stock after selling 663 shares during the quarter. Accurate Wealth Management LLC’s holdings in Coca-Cola were worth $865,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KO. Price T Rowe Associates Inc. MD lifted its holdings in Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Coca-Cola by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after buying an additional 2,964,850 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Coca-Cola in the second quarter worth $188,448,000. M&G Plc bought a new stake in shares of Coca-Cola during the 1st quarter worth $157,087,000. Finally, Raymond James & Associates grew its stake in Coca-Cola by 42.6% in the 2nd quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock valued at $397,515,000 after buying an additional 1,866,348 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $66.96, for a total value of $2,530,217.52. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Insiders sold 356,792 shares of company stock valued at $24,728,364 in the last ninety days. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KO. JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Truist Financial increased their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday. TD Cowen raised their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. BNP Paribas started coverage on Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target for the company. Finally, Morgan Stanley raised their price objective on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Coca-Cola Stock Performance

NYSE KO opened at $70.44 on Friday. The stock has a market cap of $303.45 billion, a P/E ratio of 28.18, a PEG ratio of 3.92 and a beta of 0.60. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a twelve month low of $53.86 and a twelve month high of $73.53. The company’s 50-day simple moving average is $70.70 and its 200 day simple moving average is $65.76.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter last year, the company earned $0.78 EPS. Coca-Cola’s revenue was up 3.3% on a year-over-year basis. As a group, 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

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.