Hantz Financial Services Inc. Cuts Position in The Coca-Cola Company (NYSE:KO)

Hantz Financial Services Inc. trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 3.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 210,780 shares of the company’s stock after selling 7,226 shares during the period. Hantz Financial Services Inc.’s holdings in Coca-Cola were worth $15,147,000 at the end of the most recent reporting period.

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

Coca-Cola Trading Down 0.2 %

Coca-Cola stock opened at $64.43 on Friday. The stock has a market cap of $277.55 billion, a PE ratio of 26.62, a P/E/G ratio of 3.91 and a beta of 0.61. The stock has a 50-day moving average price of $67.22 and a 200 day moving average price of $66.56. The Coca-Cola Company has a 52 week low of $57.47 and a 52 week high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS 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 return on equity of 44.01% and a net margin of 22.45%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. Equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

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 $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on KO shares. Truist Financial increased 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. Barclays cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Wells Fargo & Company increased their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.36.

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.