Mutual Advisors LLC Acquires 8,211 Shares of The Coca-Cola Company (NYSE:KO)

Mutual Advisors LLC lifted its stake in The Coca-Cola Company (NYSE:KO) by 12.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,349 shares of the company’s stock after buying an additional 8,211 shares during the period. Mutual Advisors LLC’s holdings in Coca-Cola were worth $5,004,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of KO. Allspring Global Investments Holdings LLC grew its holdings in shares of Coca-Cola by 3.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 356,812 shares of the company’s stock worth $21,830,000 after purchasing an additional 11,299 shares during the last quarter. Accel Wealth Management acquired a new position in shares of Coca-Cola during the first quarter worth approximately $206,000. Marshall Financial Group LLC grew its stake in shares of Coca-Cola by 6.9% during the first quarter. Marshall Financial Group LLC now owns 9,127 shares of the company’s stock valued at $558,000 after purchasing an additional 591 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in shares of Coca-Cola by 10.5% in the first quarter. Ashton Thomas Private Wealth LLC now owns 75,597 shares of the company’s stock valued at $4,625,000 after purchasing an additional 7,213 shares in the last quarter. Finally, Lodestone Wealth Management LLC raised its position in Coca-Cola by 3.3% in the 1st quarter. Lodestone Wealth Management LLC now owns 9,000 shares of the company’s stock worth $551,000 after purchasing an additional 285 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In related news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated 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 owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 319,005 shares of company stock worth $22,198,147 in the last three months. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. TD Cowen raised their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Five 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Coca-Cola Price Performance

KO stock opened at $65.92 on Thursday. The stock has a market cap of $283.98 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 3.91 and a beta of 0.60. The stock has a 50-day moving average price of $70.47 and a two-hundred day moving average price of $66.22. The Coca-Cola Company has a 1 year low of $56.06 and a 1 year high of $73.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 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 $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the business posted $0.74 EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 2.94%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

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.