Marco Investment Management LLC Sells 15,196 Shares of The Coca-Cola Company (NYSE:KO)

Marco Investment Management LLC lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 274,776 shares of the company’s stock after selling 15,196 shares during the period. Coca-Cola comprises about 1.7% of Marco Investment Management LLC’s holdings, making the stock its 20th largest holding. Marco Investment Management LLC’s holdings in Coca-Cola were worth $19,745,000 at the end of the most recent reporting period.

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

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The trade was a 7.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 42,397 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 8.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 160,881 shares of company stock valued at $10,693,244 in the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

KO has been the topic of a number of recent analyst reports. Barclays cut their price target 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. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Wells Fargo & Company raised their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Truist Financial raised their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Coca-Cola Stock Performance

Coca-Cola stock opened at $63.92 on Friday. The stock’s 50 day simple moving average is $67.79 and its two-hundred day simple moving average is $66.54. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock has a market cap of $275.35 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 3.87 and a beta of 0.61. The Coca-Cola Company has a fifty-two week low of $57.47 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data 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. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. As a group, analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.04%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Coca-Cola Company 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.