Procyon Advisors LLC Purchases 1,384 Shares of The Coca-Cola Company (NYSE:KO)

Procyon Advisors LLC lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,931 shares of the company’s stock after purchasing an additional 1,384 shares during the quarter. Procyon Advisors LLC’s holdings in Coca-Cola were worth $4,738,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Chicago Partners Investment Group LLC raised its holdings in Coca-Cola by 5.5% during the 4th quarter. Chicago Partners Investment Group LLC now owns 28,613 shares of the company’s stock worth $1,686,000 after buying an additional 1,487 shares during the period. Creekmur Asset Management LLC bought a new stake in shares of Coca-Cola during the fourth quarter worth $54,000. Richardson Financial Services Inc. acquired a new stake in shares of Coca-Cola during the fourth quarter worth $208,000. Fisher Asset Management LLC lifted its position in Coca-Cola by 11,127.2% in the 4th quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock valued at $293,043,000 after acquiring an additional 4,928,441 shares in the last quarter. Finally, Willner & Heller LLC acquired a new position in Coca-Cola in the 4th quarter worth $228,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock opened at $69.57 on Monday. The company has a market capitalization of $299.70 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 3.92 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 12 month low of $52.84 and a 12 month high of $73.53. The stock’s 50 day moving average is $70.51 and its 200-day moving average is $65.46.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same period in the prior year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on KO shares. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft boosted their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Citigroup raised their price target 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. Royal Bank of Canada boosted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, BNP Paribas assumed coverage on shares of Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price for the company. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $71.33.

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,507,516.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,507,516.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa Chang sold 58,122 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the completion of the transaction, the executive vice president now owns 74,067 shares in the company, valued at $5,074,330.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 376,096 shares of company stock worth $25,982,352 in the last quarter. Corporate insiders own 0.97% of the company’s stock.

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.