Ingalls & Snyder LLC Sells 13,395 Shares of The Coca-Cola Company (NYSE:KO)

Ingalls & Snyder LLC reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 16.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 67,979 shares of the company’s stock after selling 13,395 shares during the quarter. Ingalls & Snyder LLC’s holdings in Coca-Cola were worth $4,885,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lynx Investment Advisory acquired a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $48,000. Apella Capital LLC grew its holdings in Coca-Cola by 36.7% during the 2nd quarter. Apella Capital LLC now owns 10,387 shares of the company’s stock worth $651,000 after acquiring an additional 2,790 shares during the period. CWM LLC raised its position in shares of Coca-Cola by 7.4% during the 2nd quarter. CWM LLC now owns 397,236 shares of the company’s stock valued at $25,284,000 after acquiring an additional 27,470 shares during the last quarter. Cullinan Associates Inc. lifted its stake in shares of Coca-Cola by 9.4% in the 2nd quarter. Cullinan Associates Inc. now owns 1,323,214 shares of the company’s stock valued at $84,223,000 after purchasing an additional 113,528 shares during the period. Finally, Greenfield Savings Bank boosted its position in shares of Coca-Cola by 18.7% in the 2nd quarter. Greenfield Savings Bank now owns 16,074 shares of the company’s stock worth $1,023,000 after purchasing an additional 2,527 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the 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 completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 0.4 %

Shares of KO traded down $0.23 during mid-day trading on Tuesday, hitting $63.42. 4,204,069 shares of the company’s stock were exchanged, compared to its average volume of 13,520,197. The Coca-Cola Company has a 52 week low of $57.47 and a 52 week high of $73.53. The company has a 50-day simple moving average of $67.07 and a 200 day simple moving average of $66.61. The company has a market cap of $273.20 billion, a PE ratio of 26.31, a P/E/G ratio of 3.89 and a beta of 0.61. 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 issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping 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 net margin of 22.45% and a return on equity of 44.01%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. On average, research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.06%. Coca-Cola’s dividend payout ratio is 80.17%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KO. Barclays cut their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company reduced their price objective on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday. Morgan Stanley lowered their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. 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 report on Wednesday, October 16th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $72.14.

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.