Northwest & Ethical Investments L.P. Sells 66,054 Shares of The Coca-Cola Company (NYSE:KO)

Northwest & Ethical Investments L.P. reduced its holdings in The Coca-Cola Company (NYSE:KO) by 19.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 266,238 shares of the company’s stock after selling 66,054 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Coca-Cola were worth $19,132,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of KO. New Millennium Group LLC purchased a new position in shares of Coca-Cola in the 2nd quarter valued at approximately $26,000. Quarry LP bought a new position in Coca-Cola in the second quarter worth $27,000. Hara Capital LLC purchased a new position in Coca-Cola during the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola during the third quarter valued at $36,000. Finally, Mount Lucas Management LP bought a new stake in shares of Coca-Cola during the 2nd quarter valued at $38,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Performance

Coca-Cola stock traded down $0.12 during midday trading on Thursday, hitting $64.43. The stock had a trading volume of 13,263,403 shares, compared to its average volume of 13,563,657. 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 Coca-Cola Company has a 52-week low of $57.47 and a 52-week high of $73.53. The company has a market capitalization of $277.55 billion, a PE ratio of 26.62, a P/E/G ratio of 3.91 and a beta of 0.61. The firm’s fifty day moving average is $67.34 and its two-hundred day moving average is $66.57.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. 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 payout ratio is 80.17%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on KO shares. Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley lowered their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Wells Fargo & Company raised their price objective 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. Finally, 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 research note on Friday, October 25th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.36.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.97% of the company’s stock.

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.