MayTech Global Investments LLC Has $416,000 Stock Holdings in The Coca-Cola Company (NYSE:KO)

MayTech Global Investments LLC decreased its position in The Coca-Cola Company (NYSE:KO) by 5.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,790 shares of the company’s stock after selling 360 shares during the quarter. Coca-Cola comprises 0.1% of MayTech Global Investments LLC’s investment portfolio, making the stock its 27th largest holding. MayTech Global Investments LLC’s holdings in Coca-Cola were worth $416,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC acquired a new stake in shares of Coca-Cola in the 2nd quarter valued at approximately $26,000. Quarry LP bought a new stake in Coca-Cola in the second quarter valued at approximately $27,000. Hara Capital LLC acquired a new stake in Coca-Cola in the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola during the third quarter worth $36,000. Finally, Mount Lucas Management LP acquired a new position in shares of Coca-Cola in the 2nd quarter valued at $38,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on KO. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Barclays lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.36.

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction 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 approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.97% of the stock is owned by insiders.

Coca-Cola Trading Down 0.2 %

Shares of Coca-Cola stock opened at $64.43 on Thursday. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53. 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’s 50 day moving average is $67.34 and its 200-day moving average is $66.57. The stock has a market cap of $277.55 billion, a P/E ratio of 26.62, a P/E/G ratio of 3.91 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $11.61 billion. During the same period in the previous year, the business earned $0.74 EPS. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. Equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.01%. Coca-Cola’s dividend payout ratio is currently 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.