Saybrook Capital NC Trims Holdings in The Coca-Cola Company (NYSE:KO)

Saybrook Capital NC lessened its holdings in The Coca-Cola Company (NYSE:KO) by 7.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,440 shares of the company’s stock after selling 1,125 shares during the quarter. Coca-Cola comprises approximately 0.3% of Saybrook Capital NC’s investment portfolio, making the stock its 25th largest holding. Saybrook Capital NC’s holdings in Coca-Cola were worth $966,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in Coca-Cola by 3.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 356,812 shares of the company’s stock valued at $21,830,000 after acquiring an additional 11,299 shares during the period. KFG Wealth Management LLC boosted its holdings in Coca-Cola by 8.5% during the first quarter. KFG Wealth Management LLC now owns 4,954 shares of the company’s stock worth $303,000 after buying an additional 387 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Coca-Cola during the first quarter valued at $28,000. Valley National Advisers Inc. raised its position in shares of Coca-Cola by 4.2% in the first quarter. Valley National Advisers Inc. now owns 6,094 shares of the company’s stock worth $372,000 after acquiring an additional 243 shares during the period. Finally, Financial Sense Advisors Inc. increased its stake in shares of Coca-Cola by 50.3% in the 1st quarter. Financial Sense Advisors Inc. now owns 28,649 shares of the company’s stock valued at $1,753,000 after purchasing an additional 9,583 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 319,005 shares of company stock valued at $22,198,147. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Price Performance

Coca-Cola stock opened at $65.59 on Wednesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The company has a market capitalization of $282.54 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 3.91 and a beta of 0.60. The company’s 50 day simple moving average is $70.54 and its 200-day simple moving average is $66.22. The Coca-Cola Company has a 1 year low of $55.42 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. As a group, equities research 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 declared 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. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 2.96%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analysts Set New Price Targets

KO has been the subject of a number of recent analyst reports. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Barclays reduced their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Royal Bank of Canada boosted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Wells Fargo & Company raised 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. Finally, TD Cowen boosted their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

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.