Rockefeller Capital Management L.P. Sells 189,637 Shares of The Coca-Cola Company (NYSE:KO)

Rockefeller Capital Management L.P. reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 9.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,806,608 shares of the company’s stock after selling 189,637 shares during the period. Rockefeller Capital Management L.P.’s holdings in Coca-Cola were worth $129,778,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. New Millennium Group LLC bought a new stake in shares of Coca-Cola in the second quarter valued at approximately $26,000. Quarry LP bought a new position in shares of Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the third quarter worth about $36,000. Finally, Mount Lucas Management LP bought a new stake in Coca-Cola during the 2nd quarter worth approximately $38,000. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KO has been the subject of a number of research analyst reports. Barclays cut their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Truist Financial upped their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Wells Fargo & Company increased their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Morgan Stanley dropped their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Four 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the 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 sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.97% of the stock is owned by company insiders.

Coca-Cola Trading Down 0.2 %

Shares of NYSE:KO opened at $64.43 on Friday. The firm has a market cap of $277.55 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 3.91 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 Coca-Cola Company has a 12 month low of $57.47 and a 12 month high of $73.53. The company’s fifty day simple moving average is $67.22 and its 200 day simple moving average is $66.56.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. As a group, research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed 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 3.01%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

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.