Hudson Valley Investment Advisors Inc. ADV Sells 400 Shares of The Coca-Cola Company (NYSE:KO)

Hudson Valley Investment Advisors Inc. ADV cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,413 shares of the company’s stock after selling 400 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Coca-Cola were worth $275,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC increased its position in Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. Wellington Management Group LLP increased its position in Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Coca-Cola in the third quarter worth about $269,382,000. Geode Capital Management LLC increased its position in Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares during the period. Finally, Pathway Financial Advisers LLC increased its position in Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after purchasing an additional 2,443,612 shares during the period. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on 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 owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on KO shares. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday. Piper Sandler started coverage on Coca-Cola in a research report on Tuesday. They set an “overweight” rating and a $74.00 target price for the company. Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley decreased their target price 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, Barclays decreased their target price 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. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.60.

Coca-Cola Price Performance

Shares of KO opened at $60.98 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock has a 50 day simple moving average of $62.91 and a 200 day simple moving average of $66.46. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The firm has a market capitalization of $262.69 billion, a PE ratio of 25.20, a P/E/G ratio of 3.83 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for 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 business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. Sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was 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.