Castle Rock Wealth Management LLC Has $17.06 Million Stake in The Coca-Cola Company (NYSE:KO)

Castle Rock Wealth Management LLC grew its holdings in The Coca-Cola Company (NYSE:KO) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 245,679 shares of the company’s stock after acquiring an additional 1,005 shares during the quarter. Coca-Cola accounts for approximately 4.1% of Castle Rock Wealth Management LLC’s investment portfolio, making the stock its biggest position. Castle Rock Wealth Management LLC’s holdings in Coca-Cola were worth $17,061,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of KO. LVW Advisors LLC increased its position in Coca-Cola by 13.6% during the 3rd quarter. LVW Advisors LLC now owns 30,764 shares of the company’s stock worth $2,211,000 after purchasing an additional 3,684 shares in the last quarter. Independence Bank of Kentucky grew its holdings in Coca-Cola by 3.8% in the third quarter. Independence Bank of Kentucky now owns 40,022 shares of the company’s stock worth $2,876,000 after purchasing an additional 1,462 shares during the period. Stolper Co increased its position in Coca-Cola by 0.4% in the 3rd quarter. Stolper Co now owns 100,810 shares of the company’s stock valued at $7,244,000 after buying an additional 355 shares in the last quarter. Worth Asset Management LLC bought a new stake in Coca-Cola during the 3rd quarter valued at $205,000. Finally, Watts Gwilliam & Co. LLC bought a new stake in Coca-Cola during the third quarter worth $683,000. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other 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 completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 directly owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 376,096 shares of company stock valued at $25,982,352. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. TD Cowen increased their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Citigroup lifted their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Barclays upped their price target on Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Five investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.33.

Coca-Cola Stock Up 0.1 %

Shares of KO stock traded up $0.07 during trading on Friday, reaching $69.32. The company’s stock had a trading volume of 1,989,029 shares, compared to its average volume of 13,182,399. The company has a market capitalization of $298.76 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 3.92 and a beta of 0.60. The stock’s 50-day moving average price is $70.51 and its 200 day moving average price is $65.33. The Coca-Cola Company has a 1-year low of $52.43 and a 1-year high of $73.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

Coca-Cola (NYSE:KO) last issued its quarterly 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. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 EPS. On average, research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.485 per share. The ex-dividend date was Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.80%. Coca-Cola’s payout ratio is currently 78.54%.

About Coca-Cola

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.