The Coca-Cola Company (NYSE:KO) Stock Holdings Lowered by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC cut its position in The Coca-Cola Company (NYSE:KO) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 112,436 shares of the company’s stock after selling 7,525 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Coca-Cola were worth $8,080,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction 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 approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the topic of several research analyst reports. 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. Truist Financial raised their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company cut their target price on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.14.

Coca-Cola Price Performance

KO stock opened at $63.53 on Wednesday. The firm has a 50-day moving average of $66.75 and a two-hundred day moving average of $66.61. The firm has a market capitalization of $273.67 billion, a PE ratio of 26.25, a P/E/G ratio of 3.87 and a beta of 0.61. 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 one year low of $57.47 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the business posted $0.74 EPS. The company’s revenue was down .8% on a year-over-year basis. On average, analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

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.