Independent Investors Inc. lowered its stake in The Coca-Cola Co (NYSE:KO) by 3.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,627 shares of the company’s stock after selling 1,804 shares during the period. Independent Investors Inc.’s holdings in The Coca-Cola were worth $2,246,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Xact Kapitalforvaltning AB boosted its stake in shares of The Coca-Cola by 3.1% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 427,980 shares of the company’s stock valued at $18,771,000 after buying an additional 12,815 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of The Coca-Cola in the 2nd quarter valued at about $504,000. Baillie Gifford & Co. boosted its stake in shares of The Coca-Cola by 2.4% in the 2nd quarter. Baillie Gifford & Co. now owns 850,084 shares of the company’s stock valued at $37,285,000 after buying an additional 20,057 shares during the period. Deprince Race & Zollo Inc. boosted its stake in shares of The Coca-Cola by 3.9% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 744,755 shares of the company’s stock valued at $32,665,000 after buying an additional 28,240 shares during the period. Finally, Pendal Group Ltd boosted its stake in shares of The Coca-Cola by 81.7% in the 2nd quarter. Pendal Group Ltd now owns 100,002 shares of the company’s stock valued at $4,386,000 after buying an additional 44,978 shares during the period. Hedge funds and other institutional investors own 65.51% of the company’s stock.

KO has been the subject of several recent research reports. HSBC reiterated a “buy” rating and issued a $61.00 price objective on shares of The Coca-Cola in a research note on Monday, August 20th. Morningstar set a $49.00 price objective on The Coca-Cola and gave the company a “buy” rating in a research note on Wednesday, August 8th. SunTrust Banks raised their target price on The Coca-Cola to $55.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. Royal Bank of Canada set a $56.00 target price on The Coca-Cola and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Finally, Wells Fargo & Co reissued a “buy” rating and set a $52.00 target price on shares of The Coca-Cola in a research report on Wednesday, September 5th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $51.43.

KO opened at $49.74 on Friday. The company has a market cap of $212.70 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 3.27 and a beta of 0.60. The Coca-Cola Co has a 52 week low of $41.45 and a 52 week high of $50.24. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26.

The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.55 by $0.03. The company had revenue of $8.25 billion for the quarter, compared to analyst estimates of $8.20 billion. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The firm’s revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. Equities analysts predict that The Coca-Cola Co will post 2.08 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.14%. The ex-dividend date is Thursday, November 29th. The Coca-Cola’s dividend payout ratio (DPR) is 81.68%.

In other The Coca-Cola news, insider James L. Dinkins sold 9,150 shares of The Coca-Cola stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $49.95, for a total transaction of $457,042.50. Following the transaction, the insider now owns 30,400 shares of the company’s stock, valued at $1,518,480. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP James L. Dinkins sold 8,754 shares of The Coca-Cola stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $46.95, for a total value of $411,000.30. Following the transaction, the senior vice president now directly owns 28,354 shares in the company, valued at approximately $1,331,220.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 359,442 shares of company stock worth $17,675,917. 1.48% of the stock is currently owned by corporate insiders.

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The Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant–based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

Further Reading: Why is Cost of Capital Important?

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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