Principal Financial Group Inc. Trims Stock Position in The Coca-Cola Company (NYSE:KO)

Principal Financial Group Inc. cut its position in shares of The Coca-Cola Company (NYSE:KO) by 5.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,622,407 shares of the company’s stock after selling 418,298 shares during the period. Principal Financial Group Inc. owned approximately 0.18% of Coca-Cola worth $547,746,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of KO. New Millennium Group LLC purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at approximately $26,000. Quarry LP purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at approximately $27,000. ESL Trust Services LLC purchased a new stake in shares of Coca-Cola in the 1st quarter valued at approximately $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola in the 3rd quarter valued at approximately $36,000. Finally, Mount Lucas Management LP purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at approximately $38,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the transaction, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,150,619.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO James Quincey sold 42,397 shares of the company’s stock in a transaction on Monday, August 26th. The shares were 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 owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their position. 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. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. TD Cowen lifted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Wells Fargo & Company lifted their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Citigroup lifted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley dropped their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Five equities 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.80.

Coca-Cola Trading Down 2.6 %

NYSE KO opened at $63.68 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 52 week low of $56.06 and a 52 week high of $73.53. The stock has a market capitalization of $274.30 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 3.96 and a beta of 0.61. The firm has a 50 day moving average of $69.90 and a two-hundred day moving average of $66.43.

Coca-Cola (NYSE:KO) last posted its quarterly 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 analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the business posted $0.74 EPS. The firm’s revenue was down .8% on a year-over-year basis. As a group, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

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.