IHT Wealth Management LLC Increases Stock Position in The Coca-Cola Company (NYSE:KO)

IHT Wealth Management LLC increased its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 28.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 88,754 shares of the company's stock after purchasing an additional 19,519 shares during the quarter. IHT Wealth Management LLC's holdings in Coca-Cola were worth $6,370,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KO. New Millennium Group LLC purchased a new position in Coca-Cola in the second quarter valued at about $26,000. Quarry LP bought a new stake in shares of Coca-Cola in the second quarter valued at approximately $27,000. Hara Capital LLC bought a new stake in Coca-Cola during the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the 3rd quarter worth approximately $36,000. Finally, Mount Lucas Management LP bought a new stake in Coca-Cola during the 2nd quarter worth approximately $38,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KO has been the topic of a number of analyst reports. Hsbc Global Res raised shares of Coca-Cola to a "strong-buy" rating in a report on Friday, September 27th. Truist Financial boosted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Wells Fargo & Company cut their price target on shares of Coca-Cola from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday. Morgan Stanley cut their price target on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Finally, Barclays cut their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $72.14.

Coca-Cola Trading Down 0.2 %

KO traded down $0.12 during trading on Tuesday, hitting $63.53. 24,870,474 shares of the stock traded hands, compared to its average volume of 13,602,822. The firm has a market capitalization of $273.67 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm has a 50-day moving average of $66.75 and a 200 day moving average of $66.61. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53.

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

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.05%. Coca-Cola's dividend payout ratio (DPR) is presently 80.17%.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.97% of the company's stock.

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.