OneAscent Financial Services LLC Invests $888,000 in The Coca-Cola Company (NYSE:KO)

OneAscent Financial Services LLC acquired a new position in The Coca-Cola Company (NYSE:KO - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,278 shares of the company's stock, valued at approximately $888,000.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a "hold" rating in a research report on Wednesday, July 24th. Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. TD Cowen increased their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a "hold" rating in a report on Thursday, July 25th. Finally, Morgan Stanley dropped their target price on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola presently has an average rating of "Moderate Buy" and a consensus price target of $72.36.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction 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 in the company, valued at approximately $15,968,095. This trade represents a 7.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 40,334 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the transaction, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,150,619.18. This trade represents a 35.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 303,748 shares of company stock valued at $20,677,431 in the last 90 days. Corporate insiders own 0.97% of the company's stock.

Coca-Cola Stock Up 1.2 %

Shares of KO stock traded up $0.72 during midday trading on Tuesday, reaching $62.58. 16,247,853 shares of the stock were exchanged, compared to its average volume of 13,388,878. 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 firm has a market cap of $269.58 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 3.75 and a beta of 0.61. The company's 50 day moving average is $68.25 and its two-hundred day moving average is $66.55. The Coca-Cola Company has a 1 year low of $56.96 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating 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 company had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the company earned $0.74 EPS. The firm's revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Friday, November 29th. Coca-Cola's dividend payout ratio (DPR) is presently 80.17%.

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.