Coca-Cola Company (The) $KO Stock: Woodley Farra Manion Portfolio Management Inc. Cuts Stake

Woodley Farra Manion Portfolio Management Inc. cut its stake in shares of Coca-Cola Company (The) (NYSE:KO) by 33.3% in the third quarter, HoldingsChannel reports. The fund owned 53,914 shares of the company’s stock after selling 26,888 shares during the period. Woodley Farra Manion Portfolio Management Inc.’s holdings in Coca-Cola were worth $4,667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KO. Bank of America Corp DE raised its holdings in Coca-Cola by 9.5% during the first quarter. Bank of America Corp DE now owns 44,018,963 shares of the company’s stock valued at $3,347,642,000 after acquiring an additional 3,836,640 shares during the period. OMERS ADMINISTRATION Corp lifted its position in shares of Coca-Cola by 1,763.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 3,383,332 shares of the company’s stock valued at $257,302,000 after acquiring an additional 3,201,742 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Coca-Cola in the third quarter worth about $260,682,000. Wellington Management Group LLP boosted its stake in shares of Coca-Cola by 9.2% in the second quarter. Wellington Management Group LLP now owns 29,053,752 shares of the company’s stock worth $2,361,198,000 after acquiring an additional 2,439,026 shares during the period. Finally, Alecta Tjanstepension Omsesidigt bought a new position in shares of Coca-Cola in the second quarter worth about $197,470,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coca-Cola

In related news, EVP Nancy Quan sold 50,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 223,330 shares of the company’s stock, valued at approximately $20,186,798.70. This 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 this link. 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 company’s stock in a transaction that occurred on 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 sale, the insider directly owned 41,365 shares in the company, valued at $3,761,319.45. This trade represents 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 three months, insiders sold 249,498 shares of company stock valued at $23,025,238. Insiders own 0.90% of the company’s stock.

Coca-Cola Stock Up 0.9%

Shares of KO stock opened at $96.94 on Wednesday. The stock has a market cap of $417.01 billion, a P/E ratio of 28.51, a PEG ratio of 3.75 and a beta of 0.28. Coca-Cola Company has a 52 week low of $67.27 and a 52 week high of $97.39. The company has a quick ratio of 1.19, a current ratio of 1.38 and a debt-to-equity ratio of 0.93. The company’s fifty day simple moving average is $90.25 and its two-hundred day simple moving average is $82.93.

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

Coca-Cola Dividend Announcement

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

Coca-Cola News Summary

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

Analysts Set New Price Targets

Several research firms recently issued reports on KO. Argus increased their target price on Coca-Cola from $91.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. DZ Bank reissued a “buy” rating on shares of Coca-Cola in a report on Wednesday, July 29th. CICC Research upped their price target on Coca-Cola from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. The Goldman Sachs Group restated a “neutral” rating and issued a $86.00 price target (up from $82.00) on shares of Coca-Cola in a research note on Tuesday, July 28th. Finally, Bank of America increased their price objective on shares of Coca-Cola from $95.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.26.

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.