Sanctuary Advisors LLC Purchases 158,309 Shares of The Coca-Cola Company (NYSE:KO)

Sanctuary Advisors LLC boosted its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 42.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 530,953 shares of the company's stock after purchasing an additional 158,309 shares during the quarter. Sanctuary Advisors LLC's holdings in Coca-Cola were worth $38,154,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Harvest Portfolios Group Inc. bought a new stake in Coca-Cola in the third quarter worth $18,383,000. Balentine LLC raised its holdings in Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company's stock worth $2,048,000 after buying an additional 13,685 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company's stock valued at $8,351,000 after acquiring an additional 59,503 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Coca-Cola by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company's stock valued at $61,122,000 after purchasing an additional 46,541 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Coca-Cola by 4.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company's stock worth $32,895,000 after purchasing an additional 21,005 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Coca-Cola Price Performance

Shares of KO stock traded up $1.20 during mid-day trading on Thursday, hitting $63.84. The company had a trading volume of 17,072,784 shares, compared to its average volume of 13,849,868. The company has a market capitalization of $275.01 billion, a P/E ratio of 26.33, a P/E/G ratio of 3.80 and a beta of 0.61. The stock's 50 day moving average price is $65.68 and its 200-day moving average price is $66.59. The Coca-Cola Company has a 52-week low of $57.47 and a 52-week high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

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

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.04%. Coca-Cola's payout ratio is presently 80.17%.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm's stock in a transaction 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 directly owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

KO has been the subject of several research analyst reports. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a report on Friday, September 27th. Truist Financial lifted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upgraded 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. Wells Fargo & Company reduced their price objective on Coca-Cola from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, December 2nd. Finally, Barclays dropped their target price on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $72.50.

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.