Copley Financial Group Inc. Invests $669,000 in The Coca-Cola Company (NYSE:KO)

Copley Financial Group Inc. purchased a new stake in The Coca-Cola Company (NYSE:KO - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,308 shares of the company's stock, valued at approximately $669,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC raised its stake in shares of Coca-Cola by 57.6% in the third quarter. Beaird Harris Wealth Management LLC now owns 2,409 shares of the company's stock valued at $173,000 after purchasing an additional 880 shares in the last quarter. American Trust raised its stake in shares of Coca-Cola by 11.2% in the 3rd quarter. American Trust now owns 17,573 shares of the company's stock valued at $1,263,000 after buying an additional 1,771 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Coca-Cola by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company's stock worth $1,990,407,000 after acquiring an additional 1,609,565 shares during the period. Decatur Capital Management Inc. acquired a new stake in shares of Coca-Cola during the 3rd quarter valued at about $3,395,000. Finally, Wilmington Savings Fund Society FSB raised its holdings in shares of Coca-Cola by 222.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company's stock worth $13,814,000 after buying an additional 132,701 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.97% of the company's stock.

Coca-Cola Price Performance

Shares of NYSE:KO traded down $0.72 during midday trading on Friday, reaching $63.12. 13,424,313 shares of the company were exchanged, compared to its average volume of 13,848,538. The Coca-Cola Company has a one year low of $57.47 and a one year high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The business's fifty day moving average is $65.55 and its two-hundred day moving average is $66.57. The stock has a market cap of $271.91 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 3.81 and a beta of 0.61.

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. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola's revenue was down .8% on a year-over-year basis. During the same period last year, the company earned $0.74 earnings per share. As a group, analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Friday, November 29th. Coca-Cola's dividend payout ratio (DPR) is presently 80.17%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KO. Barclays cut their target price on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a "hold" rating to a "buy" rating and raised their price target for the stock from $68.00 to $70.00 in a research note on Thursday. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Finally, Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $72.50.

Coca-Cola 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.