Ingalls & Snyder LLC Has $4.89 Million Stake in The Coca-Cola Company (NYSE:KO)

Ingalls & Snyder LLC lowered its position in The Coca-Cola Company (NYSE:KO) by 16.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,979 shares of the company’s stock after selling 13,395 shares during the period. Ingalls & Snyder LLC’s holdings in Coca-Cola were worth $4,885,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Coca-Cola by 2.9% in the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after buying an additional 1,084,475 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Coca-Cola by 1.1% during the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after buying an additional 177,241 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in Coca-Cola by 1.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock valued at $847,468,000 after buying an additional 222,028 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in Coca-Cola by 8.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 8,310,453 shares of the company’s stock worth $532,558,000 after acquiring an additional 640,402 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

KO has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price target on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Monday. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Truist Financial boosted their target price 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. Four 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.14.

Coca-Cola Price Performance

KO traded down $0.23 during midday trading on Tuesday, reaching $63.42. 4,204,069 shares of the company’s stock were exchanged, compared to its average volume of 13,520,197. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The business has a 50-day simple moving average of $67.07 and a two-hundred day simple moving average of $66.61. The firm has a market capitalization of $273.20 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 3.89 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.47 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last posted its 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. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the company earned $0.74 EPS. Coca-Cola’s revenue was down .8% on a year-over-year basis. As a group, research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

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

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.