The Coca-Cola Company (NYSE:KO) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its position in The Coca-Cola Company (NYSE:KO) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,097,513 shares of the company’s stock after selling 12,601 shares during the period. PNC Financial Services Group Inc. owned about 0.14% of Coca-Cola worth $438,167,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Apella Capital LLC raised its stake in Coca-Cola by 1.4% in the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after purchasing an additional 146 shares during the last quarter. Investment Advisory Group LLC grew its holdings in shares of Coca-Cola by 4.5% during the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after buying an additional 146 shares in the last quarter. Elwood & Goetz Wealth Advisory Group LLC raised its position in shares of Coca-Cola by 2.2% in the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after buying an additional 149 shares during the last quarter. CCG Wealth Management LLC lifted its stake in shares of Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after buying an additional 149 shares in the last quarter. Finally, Investment Partners Asset Management Inc. boosted its position in Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after acquiring an additional 150 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barclays decreased their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Citigroup upped their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada lifted their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $72.36.

Insider Activity

In other news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 18.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 303,748 shares of company stock worth $20,677,431. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.2 %

KO opened at $61.85 on Tuesday. The Coca-Cola Company has a 52 week low of $56.96 and a 52 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. The business has a fifty day simple moving average of $68.43 and a 200-day simple moving average of $66.54. The firm has a market cap of $266.44 billion, a P/E ratio of 25.56, a P/E/G ratio of 3.75 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (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 business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. The business’s quarterly revenue was down .8% on a year-over-year basis. On average, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed 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 is currently 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.