M&R Capital Management Inc. Sells 793 Shares of The Coca-Cola Company (NYSE:KO)

M&R Capital Management Inc. cut its holdings in The Coca-Cola Company (NYSE:KO) by 1.5% in the third quarter, Holdings Channel reports. The fund owned 50,990 shares of the company’s stock after selling 793 shares during the quarter. M&R Capital Management Inc.’s holdings in Coca-Cola were worth $3,664,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KO. New Millennium Group LLC purchased a new stake in shares of Coca-Cola in the 2nd quarter worth approximately $26,000. Quarry LP bought a new position in Coca-Cola in the second quarter worth approximately $27,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola during the first quarter worth $28,000. ESL Trust Services LLC bought a new stake in Coca-Cola during the 1st quarter valued at $28,000. Finally, DiNuzzo Private Wealth Inc. increased its holdings in shares of Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after acquiring an additional 206 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Down 1.0 %

Shares of NYSE:KO opened at $71.01 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $73.53. The stock has a market cap of $305.91 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 3.97 and a beta of 0.60. The business has a 50-day moving average price of $70.20 and a 200-day moving average price of $64.98.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same period last year, the firm posted $0.78 EPS. Coca-Cola’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.485 per share. The ex-dividend date was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.73%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,507,516.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,507,516.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,074,330.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of analyst reports. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. TD Cowen increased their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Truist Financial lifted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada lifted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.

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.