Goldstein Advisors LLC Takes $215,000 Position in The Coca-Cola Company (NYSE:KO)

Goldstein Advisors LLC purchased a new stake in The Coca-Cola Company (NYSE:KO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,985 shares of the company’s stock, valued at approximately $215,000.

A number of other large investors also recently made changes to their positions in the stock. Frank Rimerman Advisors LLC raised its stake in Coca-Cola by 1.5% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 36,246 shares of the company’s stock worth $2,605,000 after buying an additional 519 shares during the period. Clear Harbor Asset Management LLC raised its stake in Coca-Cola by 1.1% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 16,249 shares of the company’s stock worth $1,168,000 after buying an additional 175 shares during the period. Smith Salley Wealth Management raised its stake in Coca-Cola by 1.1% during the 3rd quarter. Smith Salley Wealth Management now owns 59,933 shares of the company’s stock worth $4,307,000 after buying an additional 635 shares during the period. Bristlecone Advisors LLC acquired a new stake in Coca-Cola during the 3rd quarter worth $224,000. Finally, GHP Investment Advisors Inc. raised its stake in shares of Coca-Cola by 12.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 11,499 shares of the company’s stock valued at $826,000 after purchasing an additional 1,229 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.6 %

Coca-Cola stock opened at $66.92 on Friday. The Coca-Cola Company has a 52 week low of $55.10 and a 52 week high of $73.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The stock has a market capitalization of $288.42 billion, a P/E ratio of 27.09, a PEG ratio of 3.91 and a beta of 0.60. The stock has a 50-day simple moving average of $70.66 and a 200 day simple moving average of $66.06.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter last year, the company posted $0.74 earnings per share. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. Analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 78.54%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KO. JPMorgan Chase & Co. lifted their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Barclays dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft lifted their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Wells Fargo & Company lifted their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $71.80.

Insider Activity

In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value 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 approximately $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. Over the last quarter, insiders have sold 319,005 shares of company stock valued at $22,198,147. 0.97% of the stock is owned by insiders.

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.