Caprock Group LLC Buys 8,691 Shares of The Coca-Cola Company (NYSE:KO)

Caprock Group LLC grew its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 17.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,575 shares of the company's stock after purchasing an additional 8,691 shares during the period. Caprock Group LLC's holdings in Coca-Cola were worth $4,165,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in KO. Apella Capital LLC raised its stake in Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company's stock valued at $748,000 after buying an additional 146 shares during the last quarter. Investment Advisory Group LLC increased its holdings in shares of Coca-Cola by 4.5% during the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company's stock valued at $243,000 after acquiring an additional 146 shares in the last quarter. Elwood & Goetz Wealth Advisory Group LLC raised its position in shares of Coca-Cola by 2.2% in the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company's stock worth $437,000 after purchasing an additional 149 shares during the last quarter. CCG Wealth Management LLC boosted its stake in Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company's stock worth $260,000 after purchasing an additional 149 shares in the last quarter. Finally, Investment Partners Asset Management Inc. grew its position in Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company's stock valued at $500,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 18,484 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 223,330 shares of the company's stock, valued at $15,968,095. This represents a 7.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 100,000 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company's stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 303,748 shares of company stock worth $20,677,431 in the last three months. 0.97% of the stock is owned by company insiders.

Coca-Cola Price Performance

Shares of NYSE KO traded up $0.72 during midday trading on Tuesday, reaching $62.58. The stock had a trading volume of 16,247,853 shares, compared to its average volume of 13,388,878. The company has a market capitalization of $269.58 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 3.75 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $56.96 and a 12-month high of $73.53. The stock has a 50-day moving average of $68.25 and a 200-day moving average of $66.55. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the business posted $0.74 EPS. Coca-Cola's revenue for the quarter was down .8% compared to the same quarter last year. As a group, research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 yield of 3.10%. Coca-Cola's dividend payout ratio is presently 80.17%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KO. Hsbc Global Res upgraded shares of Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Truist Financial upped their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Barclays reduced their target price on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Morgan Stanley lowered their price target on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company lifted their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $72.36.

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.