Mizuho Markets Americas LLC Sells 15,735 Shares of The Coca-Cola Company (NYSE:KO)

Mizuho Markets Americas LLC cut its position in shares of The Coca-Cola Company (NYSE:KO) by 15.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 85,702 shares of the company’s stock after selling 15,735 shares during the period. Mizuho Markets Americas LLC’s holdings in Coca-Cola were worth $6,159,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. New Millennium Group LLC purchased a new position in shares of Coca-Cola in the 2nd quarter worth $26,000. Quarry LP purchased a new position in Coca-Cola in the second quarter worth about $27,000. ESL Trust Services LLC purchased a new position in Coca-Cola in the first quarter worth about $28,000. Hara Capital LLC purchased a new stake in Coca-Cola during the third quarter valued at approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola in the 3rd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on KO shares. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Royal Bank of Canada upped their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Truist Financial increased their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, TD Cowen boosted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola Stock Down 1.3 %

NYSE:KO opened at $61.73 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 Coca-Cola Company has a twelve month low of $56.70 and a twelve month high of $73.53. The company has a market cap of $265.92 billion, a PE ratio of 25.51, a P/E/G ratio of 3.83 and a beta of 0.61. The company’s 50 day moving average is $68.63 and its two-hundred day moving average is $66.48.

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 during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. Analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insider Buying and Selling

In related news, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the transaction, the executive vice president now owns 74,067 shares in the company, valued at $5,150,619.18. This represents a 35.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were 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 directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 303,748 shares of company stock valued at $20,677,431 over the last ninety days. 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.