Sweet Financial Partners LLC Decreases Stake in The Coca-Cola Company (NYSE:KO)

Sweet Financial Partners LLC cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,923 shares of the company’s stock after selling 973 shares during the period. Sweet Financial Partners LLC’s holdings in Coca-Cola were worth $2,510,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of KO. Swedbank AB bought a new position in Coca-Cola in the first quarter valued at about $102,604,000. BDF Gestion purchased a new position in shares of Coca-Cola in the second quarter worth approximately $7,421,000. Duality Advisers LP grew its position in Coca-Cola by 191.1% during the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock valued at $6,843,000 after buying an additional 73,434 shares during the period. TD Asset Management Inc raised its position in Coca-Cola by 0.7% in the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock worth $179,578,000 after acquiring an additional 20,048 shares during the period. Finally, New Mexico Educational Retirement Board boosted its stake in shares of Coca-Cola by 11.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock worth $14,013,000 after acquiring an additional 23,500 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Performance

Coca-Cola stock opened at $69.88 on Friday. 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 moving average price is $70.67 and its 200-day moving average price is $65.65. The company has a market cap of $301.04 billion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. On average, equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Barclays boosted their price objective on Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Bank of America boosted their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Truist Financial upped their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday. Five investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Insider Buying and Selling at Coca-Cola

In other news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Nancy Quan sold 18,482 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,398,603.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 356,792 shares of company stock worth $24,728,364 over the last quarter. Insiders own 0.97% of the company’s stock.

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.