Hennion & Walsh Asset Management Inc. Trims Stake in The Coca-Cola Company (NYSE:KO)

Hennion & Walsh Asset Management Inc. lessened its holdings in The Coca-Cola Company (NYSE:KO) by 1.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 75,167 shares of the company’s stock after selling 796 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Coca-Cola were worth $5,402,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at about $26,000. Quarry LP bought a new position in shares of Coca-Cola in the second quarter worth approximately $27,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola in the first quarter valued at approximately $28,000. ESL Trust Services LLC bought a new stake in Coca-Cola during the first quarter valued at approximately $28,000. Finally, DiNuzzo Private Wealth Inc. increased its holdings in shares of Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after buying an additional 206 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 37,787 shares of Coca-Cola stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,954,176.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruno Pietracci sold 38,653 shares of the business’s 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 disclosure for this sale can be found here. In the last quarter, insiders sold 356,792 shares of company stock valued at $24,728,364. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 2.1 %

NYSE KO opened at $68.02 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The stock has a market capitalization of $293.03 billion, a PE ratio of 27.21, a PEG ratio of 3.92 and a beta of 0.60. The business’s 50-day moving average is $70.74 and its 200 day moving average is $65.96. The Coca-Cola Company has a 1 year low of $55.10 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 EPS. Sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.85%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KO. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft lifted their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Royal Bank of Canada upped their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Truist Financial lifted their price target 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. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

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.