The Coca-Cola Company (NYSE:KO) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in The Coca-Cola Company (NYSE:KO) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 477,002 shares of the company’s stock after selling 11,375 shares during the period. Coca-Cola comprises about 0.4% of Mutual of America Capital Management LLC’s investment portfolio, making the stock its 27th largest position. Mutual of America Capital Management LLC’s holdings in Coca-Cola were worth $34,277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. New Millennium Group LLC bought a new position in Coca-Cola during the 2nd quarter worth $26,000. Quarry LP acquired a new position in shares of Coca-Cola during the second quarter valued at $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola during the third quarter worth about $36,000. Finally, Mount Lucas Management LP acquired a new stake in shares of Coca-Cola in the 2nd quarter worth about $38,000. 70.26% of the stock is currently owned by institutional investors.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction on 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 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 18.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This trade represents a 35.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 303,748 shares of company stock valued at $20,677,431 over the last three months. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on KO shares. TD Cowen upped their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Citigroup boosted their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company raised their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft boosted their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Finally, Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Stock Performance

Shares of KO opened at $61.74 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm’s 50 day moving average is $68.63 and its 200-day moving average is $66.51. The Coca-Cola Company has a 12-month low of $56.70 and a 12-month high of $73.53. The stock has a market capitalization of $265.96 billion, a P/E ratio of 25.51, a P/E/G ratio of 3.75 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. Equities research analysts anticipate 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 given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 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.