Sigma Planning Corp Decreases Stake in The Coca-Cola Company (NYSE:KO)

by · The Markets Daily

Sigma Planning Corp decreased its holdings in The Coca-Cola Company (NYSE:KO – Free Report) by 5.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 81,375 shares of the company’s stock after selling 4,730 shares during the period. Sigma Planning Corp’s holdings in Coca-Cola were worth $5,848,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KO. WealthPLAN Partners LLC boosted its position in shares of Coca-Cola by 151.6% in the first quarter. WealthPLAN Partners LLC now owns 17,267 shares of the company’s stock worth $1,056,000 after buying an additional 10,404 shares during the period. Atomi Financial Group Inc. boosted its holdings in Coca-Cola by 77.0% in the 1st quarter. Atomi Financial Group Inc. now owns 19,219 shares of the company’s stock worth $1,176,000 after acquiring an additional 8,362 shares during the period. Sei Investments Co. grew its position in Coca-Cola by 16.6% in the first quarter. Sei Investments Co. now owns 1,702,573 shares of the company’s stock valued at $104,163,000 after acquiring an additional 241,812 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Coca-Cola by 20.6% during the first quarter. Meeder Asset Management Inc. now owns 6,634 shares of the company’s stock valued at $406,000 after purchasing an additional 1,133 shares during the period. Finally, Meeder Advisory Services Inc. lifted its position in shares of Coca-Cola by 2.0% during the first quarter. Meeder Advisory Services Inc. now owns 47,960 shares of the company’s stock worth $2,934,000 after purchasing an additional 963 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO James Quincey sold 102,533 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 203,748 shares of company stock worth $14,274,431. 0.97% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. TD Cowen increased their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

View Our Latest Report on Coca-Cola

Coca-Cola Price Performance

KO opened at $63.92 on Friday. The firm has a market cap of $275.35 billion, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61. The company’s 50-day moving average price is $69.56 and its 200 day moving average price is $66.44. The Coca-Cola Company has a fifty-two week low of $56.06 and a fifty-two week 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.

Coca-Cola (NYSE:KO – Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to analyst estimates 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 for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 EPS. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

Coca-Cola Company Profile

(Free Report)

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.

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