Confluence Wealth Services Inc. Sells 10,884 Shares of Coca-Cola Company (The) $KO

Confluence Wealth Services Inc. trimmed its stake in shares of Coca-Cola Company (The) (NYSE:KO) by 24.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,241 shares of the company’s stock after selling 10,884 shares during the period. Confluence Wealth Services Inc.’s holdings in Coca-Cola were worth $2,861,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Guardian Partners Inc. bought a new position in Coca-Cola in the 2nd quarter worth approximately $27,000. Horizons Wealth Management acquired a new position in Coca-Cola during the 3rd quarter worth $31,000. Atomic Invest LLC lifted its holdings in Coca-Cola by 38.7% during the 2nd quarter. Atomic Invest LLC now owns 437 shares of the company’s stock worth $36,000 after buying an additional 122 shares in the last quarter. Putney Financial Group LLC acquired a new position in Coca-Cola during the 3rd quarter worth $43,000. Finally, Timbuktu Capital Management LLC bought a new position in Coca-Cola in the 2nd quarter valued at $41,000. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $90.39, for a total transaction of $4,519,500.00. Following the transaction, the executive vice president owned 223,330 shares in the company, valued at approximately $20,186,798.70. This trade represents a 18.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Bruno Pietracci sold 111,365 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $90.93, for a total value of $10,126,419.45. Following the transaction, the insider owned 41,365 shares of the company’s stock, valued at $3,761,319.45. The trade was a 72.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 249,498 shares of company stock valued at $23,025,238. 0.90% of the stock is currently owned by company insiders.

Coca-Cola Price Performance

KO opened at $96.94 on Wednesday. The company has a fifty day moving average price of $90.25 and a two-hundred day moving average price of $82.93. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.19 and a current ratio of 1.38. Coca-Cola Company has a 52 week low of $67.27 and a 52 week high of $97.39. The firm has a market capitalization of $417.01 billion, a PE ratio of 28.51, a P/E/G ratio of 3.75 and a beta of 0.28.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, October 27th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $13.35 billion during the quarter, compared to analysts’ expectations of $12.92 billion. Coca-Cola had a net margin of 28.65% and a return on equity of 38.79%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS. As a group, analysts anticipate that Coca-Cola Company will post 3.34 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, December 1st. Coca-Cola’s dividend payout ratio is currently 62.35%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. CICC Research lifted their target price on Coca-Cola from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. TD Cowen lifted their price objective on Coca-Cola from $100.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Citigroup boosted their price objective on Coca-Cola from $102.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Daiwa Securities Group upped their target price on shares of Coca-Cola from $83.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $95.00 to $98.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.26.

Trending Headlines about Coca-Cola

Here are the key news stories impacting Coca-Cola this week:

• Positive Sentiment: Coca-Cola’s push into functional beverages is gaining traction, with fairlife, Powerade and smartwater growth, alongside innovation and capacity expansion, offering potential avenues for growth. Can Coca-Cola Benefit From Rising Demand for Functional Drinks?
• Positive Sentiment: Several articles emphasize KO’s durable brands and its 64-year record of dividend increases, reinforcing its appeal to long-term income investors. One report also notes Berkshire Hathaway receives about $848 million annually in dividends from its Coca-Cola investment. Coca-Cola’s Dividend Has Grown 64 Years in a Row Warren Buffett’s Coca-Cola Investment
• Neutral Sentiment: Coca-Cola India is advancing draft papers for an IPO. The report does not specify how the offering could affect KO financially. Coca-Cola India IPO moves forward with draft papers
• Neutral Sentiment: EVP Nancy Quan sold shares to cover tax withholding on vested equity awards and retained a substantial stake, making the transaction less informative as a signal about her outlook. Coca-Cola EVP Nancy Quan Sells Shares
• Negative Sentiment: Some commentary cautions that KO’s share-price gains have outpaced revisions to its earnings outlook, raising valuation concerns. Higher real Treasury yields and competing bond yields could also make dividend stocks less attractive to some investors. Coca-Cola Stock Keeps Setting Records Treasuries Now Offer 2.66% Above Inflation

Coca-Cola Company Profile

The Coca-Cola Company (NYSE: KO) is a global beverage company headquartered in Atlanta, Georgia. Founded in 1886, it is best known for Coca-Cola, one of the world’s most recognized soft drink brands. The company owns, licenses, and markets a broad portfolio of beverages, including sparkling soft drinks, water, sports drinks, coffee, tea, juice, dairy and plant-based beverages, and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, Dasani, smartwater, Powerade, Minute Maid, Simply, fairlife, and Costa Coffee, among others.