Crescent Grove Advisors LLC Sells 747 Shares of The Coca-Cola Company (NYSE:KO)

Crescent Grove Advisors LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 9.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,181 shares of the company’s stock after selling 747 shares during the period. Crescent Grove Advisors LLC’s holdings in Coca-Cola were worth $519,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. New Millennium Group LLC bought a new position in Coca-Cola in the second quarter worth approximately $26,000. Quarry LP purchased a new position in shares of Coca-Cola in the 2nd quarter valued at $27,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola in the 1st quarter worth $28,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola in the 3rd quarter worth $36,000. Finally, DiNuzzo Private Wealth Inc. lifted its stake in shares of Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on KO shares. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Truist Financial raised 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 boosted their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company increased their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average price target of $71.80.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 40,334 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 74,067 shares in the company, valued at $5,150,619.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 40,334 shares of the business’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 transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,150,619.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 203,748 shares of company stock worth $14,274,431 in the last three months. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Up 0.4 %

Shares of NYSE:KO opened at $65.39 on Wednesday. The company has a market capitalization of $281.69 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 3.95 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $56.06 and a 12-month high of $73.53. The business has a 50-day moving average price of $70.06 and a 200 day moving average price of $66.45. 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 released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. Sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.97%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 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.