Calamos Advisors LLC lowered its stake in shares of Coca-Cola Co (The) (NYSE:KO) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,530,090 shares of the company’s stock after selling 29,329 shares during the quarter. Calamos Advisors LLC’s holdings in Coca-Cola were worth $75,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Morgan Dempsey Capital Management LLC raised its stake in Coca-Cola by 4.2% in the third quarter. Morgan Dempsey Capital Management LLC now owns 192,439 shares of the company’s stock valued at $9,501,000 after buying an additional 7,793 shares during the last quarter. Aurora Private Wealth Inc. raised its stake in shares of Coca-Cola by 14.7% in the third quarter. Aurora Private Wealth Inc. now owns 5,412 shares of the company’s stock worth $267,000 after purchasing an additional 695 shares during the last quarter. Sheets Smith Wealth Management raised its stake in shares of Coca-Cola by 0.3% in the third quarter. Sheets Smith Wealth Management now owns 332,391 shares of the company’s stock worth $16,410,000 after purchasing an additional 1,057 shares during the last quarter. Harbor Advisory Corp MA purchased a new position in shares of Coca-Cola in the third quarter worth about $220,000. Finally, Essex Savings Bank raised its stake in shares of Coca-Cola by 4.8% in the third quarter. Essex Savings Bank now owns 25,972 shares of the company’s stock worth $1,282,000 after purchasing an additional 1,188 shares during the last quarter. 65.86% of the stock is currently owned by institutional investors.

KO traded down $1.79 during trading on Wednesday, hitting $48.11. The company’s stock had a trading volume of 758,026 shares, compared to its average volume of 17,337,598. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 1.97. Coca-Cola Co has a twelve month low of $36.27 and a twelve month high of $60.13. The business’s fifty day simple moving average is $49.99 and its 200 day simple moving average is $47.58. The firm has a market capitalization of $214.44 billion, a price-to-earnings ratio of 23.54, a P/E/G ratio of 5.76 and a beta of 0.55.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.46 by $0.09. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. The company had revenue of $8.65 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period last year, the company earned $0.56 earnings per share. Coca-Cola’s quarterly revenue was down 9.0% compared to the same quarter last year. As a group, equities research analysts forecast that Coca-Cola Co will post 1.79 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.41%. The ex-dividend date is Monday, November 30th. Coca-Cola’s payout ratio is currently 77.73%.

Several brokerages have recently issued reports on KO. Morgan Stanley raised their price objective on Coca-Cola from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Friday, October 23rd. Zacks Investment Research cut Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price objective for the company. in a research note on Tuesday, September 22nd. Bank of America restated a “buy” rating and issued a $53.00 price objective on shares of Coca-Cola in a research note on Friday, July 17th. Finally, UBS Group raised their price objective on Coca-Cola from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $53.28.

In other news, Director David B. Weinberg sold 50,000 shares of Coca-Cola stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $48.02, for a total value of $2,401,000.00. Following the sale, the director now directly owns 355,214 shares of the company’s stock, valued at $17,057,376.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert Edward Long sold 37,534 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $48.21, for a total value of $1,809,514.14. Following the completion of the sale, the senior vice president now directly owns 82,502 shares in the company, valued at $3,977,421.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,534 shares of company stock worth $6,611,514. 1.01% of the stock is owned by corporate insiders.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; 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.

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

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