Vicus Capital Decreases Holdings in The Coca-Cola Company (NYSE:KO)

Vicus Capital trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 42.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,368 shares of the company’s stock after selling 3,911 shares during the quarter. Vicus Capital’s holdings in Coca-Cola were worth $386,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. New Millennium Group LLC purchased a new stake in shares of Coca-Cola during the 2nd quarter valued at about $26,000. Quarry LP purchased a new stake in shares of Coca-Cola during the 2nd quarter valued at about $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Coca-Cola during the 1st quarter valued at about $28,000. ESL Trust Services LLC purchased a new stake in Coca-Cola in the 1st quarter worth about $28,000. Finally, DiNuzzo Private Wealth Inc. raised its position in Coca-Cola by 65.0% in 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 period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

NYSE:KO opened at $69.45 on Wednesday. The Coca-Cola Company has a 52 week low of $54.04 and a 52 week high of $73.53. The firm has a 50 day moving average of $70.75 and a 200 day moving average of $65.94. 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 stock has a market capitalization of $299.19 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating 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 analysts’ expectations of $11.78 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. Coca-Cola’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.79%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were 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 owns 223,330 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. In other Coca-Cola news, EVP Lisa Chang sold 58,122 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total value 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 approximately $5,074,330.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the firm’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 directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 356,792 shares of company stock valued at $24,728,364. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on KO. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Bank of America increased their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Morgan Stanley increased their price objective on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Truist Financial increased their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Five 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

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.