Sheaff Brock Investment Advisors LLC increased its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 104.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,214 shares of the company's stock after acquiring an additional 59,503 shares during the period. Sheaff Brock Investment Advisors LLC's holdings in Coca-Cola were worth $8,351,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Apella Capital LLC boosted its position in shares of Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company's stock worth $748,000 after buying an additional 146 shares during the period. Investment Advisory Group LLC lifted its stake in Coca-Cola by 4.5% during the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company's stock worth $243,000 after acquiring an additional 146 shares in the last quarter. Elwood & Goetz Wealth Advisory Group LLC boosted its holdings in Coca-Cola by 2.2% during the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company's stock valued at $437,000 after acquiring an additional 149 shares during the period. CCG Wealth Management LLC grew its position in Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company's stock valued at $260,000 after acquiring an additional 149 shares in the last quarter. Finally, Investment Partners Asset Management Inc. increased its stake in Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company's stock worth $500,000 after purchasing an additional 150 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.
Coca-Cola Stock Performance
Shares of KO traded down $0.82 during midday trading on Friday, reaching $61.73. 26,201,220 shares of the stock were exchanged, compared to its average volume of 13,364,542. The Coca-Cola Company has a twelve month low of $56.70 and a twelve month 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. The company has a market capitalization of $265.92 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 3.83 and a beta of 0.61. The business's 50-day moving average price is $68.82 and its 200 day moving average price is $66.48.
Coca-Cola (NYSE:KO - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the firm posted $0.74 earnings per share. The company's revenue for the quarter was down .8% compared to the same quarter last year. On average, sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.
Coca-Cola Dividend Announcement
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 paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola's dividend payout ratio is presently 80.17%.
Insiders Place Their Bets
In related news, EVP Nancy Quan sold 18,484 shares of the company's 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 transaction, the executive vice president now owns 223,330 shares of the company's stock, valued at $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. The sale 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 on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company's stock, valued at approximately $30,987,070.92. This trade represents a 18.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 303,748 shares of company stock valued at $20,677,431. 0.97% of the stock is owned by company insiders.
Analyst Ratings Changes
Several research analysts have recently commented on the stock. Citigroup raised their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. TD Cowen boosted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a "hold" rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price objective on Coca-Cola from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Wednesday, July 24th. Morgan Stanley lowered their target price on 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, Hsbc Global Res raised Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. Four 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.36.
Read Our Latest Research Report on KO
Coca-Cola Profile
(
Free Report)
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.
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