Kanawha Capital Management LLC Sells 1,684 Shares of The Coca-Cola Company (NYSE:KO)

by · The Markets Daily

Kanawha Capital Management LLC reduced its stake in The Coca-Cola Company (NYSE:KO – Free Report) by 0.9% during the 3rd quarter, Holdings Channel reports. The firm owned 181,435 shares of the company’s stock after selling 1,684 shares during the period. Kanawha Capital Management LLC’s holdings in Coca-Cola were worth $13,038,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in KO. Jennison Associates LLC grew its holdings in shares of Coca-Cola by 3.8% in the 1st quarter. Jennison Associates LLC now owns 47,562 shares of the company’s stock valued at $2,910,000 after buying an additional 1,746 shares during the period. Mutual Advisors LLC increased its holdings in shares of Coca-Cola by 7.0% in the first quarter. Mutual Advisors LLC now owns 70,161 shares of the company’s stock worth $4,292,000 after acquiring an additional 4,618 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Coca-Cola during the first quarter worth about $1,513,000. Comprehensive Financial Consultants Institutional Inc. lifted its holdings in shares of Coca-Cola by 3.0% during the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 15,696 shares of the company’s stock valued at $960,000 after purchasing an additional 455 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Coca-Cola by 6.1% during the 1st quarter. Proficio Capital Partners LLC now owns 9,328 shares of the company’s stock valued at $571,000 after purchasing an additional 535 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. 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 hyperlink. Also, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 261,870 shares of company stock worth $18,256,369. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Truist Financial upped their target price 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. Wells Fargo & Company lifted their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Five equities 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $71.80.

Read Our Latest Report on Coca-Cola

Coca-Cola Stock Performance

NYSE KO opened at $65.01 on Monday. The firm has a market capitalization of $280.05 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 3.97 and a beta of 0.62. 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 firm’s fifty day moving average price is $70.29 and its two-hundred day moving average price is $66.37. The Coca-Cola Company has a 1 year low of $56.06 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating 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 company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the firm earned $0.74 EPS. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. As a group, research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is presently 80.17%.

Coca-Cola Company Profile

(Free Report)

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.

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