Aureus Asset Management LLC Sells 1,865 Shares of The Coca-Cola Company (NYSE:KO)

Aureus Asset Management LLC lowered its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 91,965 shares of the company’s stock after selling 1,865 shares during the period. Aureus Asset Management LLC’s holdings in Coca-Cola were worth $6,609,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Harvest Portfolios Group Inc. acquired a new position in Coca-Cola in the third quarter valued at $18,383,000. Balentine LLC lifted its holdings in Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after buying an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after buying an additional 59,503 shares during the period. CIBC Asset Management Inc lifted its holdings in Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock valued at $61,122,000 after buying an additional 46,541 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in Coca-Cola by 4.8% in the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock valued at $32,895,000 after buying an additional 21,005 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.5 %

NYSE:KO opened at $64.08 on Monday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm has a 50-day moving average of $67.07 and a 200-day moving average of $66.61. The company has a market cap of $276.04 billion, a PE ratio of 26.48, a PEG 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 net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 3.03%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KO. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Barclays dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Morgan Stanley decreased their price target 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. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Wells Fargo & Company lifted their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $72.36.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the business’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 transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is owned by corporate insiders.

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.