Frazier Financial Advisors LLC Sells 395 Shares of The Coca-Cola Company (NYSE:KO)

Frazier Financial Advisors LLC lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 42.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 542 shares of the company’s stock after selling 395 shares during the period. Frazier Financial Advisors LLC’s holdings in Coca-Cola were worth $39,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of KO. Apella Capital LLC raised its holdings in shares of Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after purchasing an additional 146 shares during the period. Investment Advisory Group LLC raised its holdings in shares of Coca-Cola by 4.5% in the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after acquiring an additional 146 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC grew its position in Coca-Cola by 2.2% in the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after purchasing an additional 149 shares in the last quarter. CCG Wealth Management LLC grew its position in Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after purchasing an additional 149 shares in the last quarter. Finally, Investment Partners Asset Management Inc. grew its position in Coca-Cola by 2.2% in the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, EVP Lisa Chang sold 40,334 shares of Coca-Cola 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 directly owns 74,067 shares of the company’s stock, valued at $5,150,619.18. This trade represents a 35.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This trade represents a 18.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 303,748 shares of company stock valued at $20,677,431. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on KO shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Wells Fargo & Company upped their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Barclays lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Truist Financial increased their target price 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. 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Price Performance

KO stock opened at $61.74 on Friday. 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 Coca-Cola Company has a 52 week low of $56.70 and a 52 week high of $73.53. The firm’s fifty day moving average is $68.63 and its 200 day moving average is $66.51. The firm has a market cap of $265.96 billion, a P/E ratio of 25.51, a P/E/G ratio of 3.75 and a beta of 0.61.

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, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. Research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

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

Coca-Cola Company 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.