The Coca-Cola Company (NYSE:KO) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lessened its holdings in The Coca-Cola Company (NYSE:KO) by 11.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 143,101 shares of the company’s stock after selling 18,373 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Coca-Cola were worth $10,283,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Arrow Financial Corp boosted its holdings in Coca-Cola by 2.9% in the third quarter. Arrow Financial Corp now owns 32,002 shares of the company’s stock worth $2,300,000 after acquiring an additional 906 shares in the last quarter. Costello Asset Management INC lifted its holdings in shares of Coca-Cola by 90.7% during the third quarter. Costello Asset Management INC now owns 841 shares of the company’s stock worth $60,000 after purchasing an additional 400 shares during the period. Mesirow Financial Investment Management Inc. lifted its holdings in shares of Coca-Cola by 0.6% during the third quarter. Mesirow Financial Investment Management Inc. now owns 204,703 shares of the company’s stock worth $14,710,000 after purchasing an additional 1,121 shares during the period. Carr Financial Group Corp lifted its holdings in shares of Coca-Cola by 9.8% during the third quarter. Carr Financial Group Corp now owns 3,703 shares of the company’s stock worth $266,000 after purchasing an additional 332 shares during the period. Finally, GSG Advisors LLC lifted its holdings in shares of Coca-Cola by 12.5% during the third quarter. GSG Advisors LLC now owns 4,222 shares of the company’s stock worth $303,000 after purchasing an additional 469 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on KO. Royal Bank of Canada lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. TD Cowen lifted their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Hsbc Global Res raised 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 company a “hold” rating in a research report on Wednesday, July 24th. Finally, Barclays reduced their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.80.

Coca-Cola Stock Up 0.4 %

Coca-Cola stock opened at $63.92 on Friday. The stock has a market capitalization of $275.35 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $56.06 and a 12 month high of $73.53. The business has a 50 day simple moving average of $69.56 and a 200-day simple moving average of $66.44. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during 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 revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. On average, analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 203,748 shares of company stock valued at $14,274,431 over the last ninety days. Insiders own 0.97% of the company’s stock.

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.