Vest Financial LLC Purchases 18,119 Shares of The Coca-Cola Company (NYSE:KO)

Vest Financial LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 2.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 783,922 shares of the company's stock after buying an additional 18,119 shares during the quarter. Coca-Cola comprises approximately 1.1% of Vest Financial LLC's investment portfolio, making the stock its 18th biggest position. Vest Financial LLC's holdings in Coca-Cola were worth $56,333,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in KO. Price T Rowe Associates Inc. MD lifted its stake in Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company's stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Coca-Cola by 30.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company's stock worth $776,924,000 after buying an additional 2,964,850 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in Coca-Cola in the second quarter valued at about $188,448,000. M&G Plc acquired a new stake in Coca-Cola in the first quarter valued at about $157,087,000. Finally, Raymond James & Associates grew its position in Coca-Cola by 42.6% in the second quarter. Raymond James & Associates now owns 6,245,331 shares of the company's stock valued at $397,515,000 after acquiring an additional 1,866,348 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Activity at Coca-Cola

In related news, EVP Nancy Quan sold 37,787 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $66.96, for a total value of $2,530,217.52. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,954,176.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Nancy Quan sold 37,787 shares of the business's stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company's stock, valued at $14,954,176.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Quincey sold 102,533 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 356,792 shares of company stock valued at $24,728,364 in the last three months. Corporate insiders own 0.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KO. BNP Paribas began coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an "outperform" rating and a $72.00 price target on the stock. Citigroup boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on Coca-Cola from $68.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, July 10th. Bank of America raised their price objective on Coca-Cola from $68.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, July 10th. Finally, Wells Fargo & Company upped their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Five investment 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 data from MarketBeat, Coca-Cola currently has a consensus rating of "Moderate Buy" and an average price target of $72.00.

Coca-Cola Trading Up 0.8 %

Coca-Cola stock traded up $0.54 during mid-day trading on Friday, hitting $70.44. 15,087,519 shares of the stock were exchanged, compared to its average volume of 13,165,565. The firm's fifty day simple moving average is $70.70 and its two-hundred day simple moving average is $65.80. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 12 month low of $53.86 and a 12 month high of $73.53. The stock has a market capitalization of $303.45 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter last year, the firm earned $0.78 earnings per share. Coca-Cola's quarterly revenue was up 3.3% on a year-over-year basis. Analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business 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 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola's dividend payout ratio (DPR) is currently 77.60%.

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.