Linscomb Wealth Inc. Lowers Holdings in The Coca-Cola Company (NYSE:KO)

Linscomb Wealth Inc. reduced its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,530 shares of the company’s stock after selling 711 shares during the period. Linscomb Wealth Inc.’s holdings in Coca-Cola were worth $1,835,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares during the period. Legal & General Group Plc grew its position in shares of Coca-Cola by 2.9% during 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 in the last quarter. Truist Financial Corp increased its stake in shares of Coca-Cola by 1.1% during the second 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. raised its holdings in Coca-Cola by 1.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock valued at $847,468,000 after acquiring an additional 222,028 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Coca-Cola by 15.7% in the first quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock worth $638,344,000 after acquiring an additional 1,417,930 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $61.73 on Friday. The Coca-Cola Company has a one year low of $56.70 and a one year high of $73.53. The stock has a market capitalization of $265.92 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 3.83 and a beta of 0.61. The company has a 50-day simple moving average of $68.63 and a 200-day simple moving average of $66.48. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating 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 company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period last year, the business posted $0.74 EPS. The company’s revenue was down .8% on a year-over-year basis. On average, analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. 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 3.14%. Coca-Cola’s payout ratio is currently 80.17%.

Insider Transactions at Coca-Cola

In other 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 completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,150,619.18. This trade represents a 35.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 303,748 shares of company stock worth $20,677,431. Company insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Truist Financial upped their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley cut their target price 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. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Four 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 company’s stock. According to data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $72.36.

About Coca-Cola

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.