Meridian Wealth Management LLC Acquires New Shares in The Coca-Cola Company (NYSE:KO)

Meridian Wealth Management LLC purchased a new stake in The Coca-Cola Company (NYSE:KO - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 41,253 shares of the company's stock, valued at approximately $2,964,000.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KO. Barclays cut their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Cfra reiterated a "hold" rating on shares of Coca-Cola in a report on Thursday, September 5th. Hsbc Global Res raised Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Finally, Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $72.36.

Coca-Cola Stock Up 0.3 %

Shares of KO stock traded up $0.16 on Friday, hitting $63.92. 19,562,231 shares of the stock were exchanged, compared to its average volume of 15,164,770. The business has a 50-day moving average of $67.79 and a 200 day moving average of $66.54. The Coca-Cola Company has a fifty-two week low of $57.47 and a fifty-two week high of $73.53. The firm has a market capitalization of $275.35 billion, a P/E ratio of 26.41, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

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, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company's revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. Equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

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 paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Friday, November 29th. Coca-Cola's dividend payout ratio (DPR) is presently 80.17%.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 42,397 shares of Coca-Cola stock in a transaction on Monday, August 26th. The stock was sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company's stock, valued at approximately $30,987,070.92. This trade represents a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated 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 completion of the sale, the executive vice president now owns 223,330 shares of the company's stock, valued at $15,968,095. This trade represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 160,881 shares of company stock valued at $10,693,244 in the last quarter. 0.97% of the stock is currently owned by insiders.

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.