Investment Advisory Group LLC Increases Position in The Coca-Cola Company (NYSE:KO)

by · The Markets Daily

Investment Advisory Group LLC lifted its holdings in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 4.5% during the third quarter, Holdings Channel reports. The fund owned 3,378 shares of the company’s stock after purchasing an additional 146 shares during the quarter. Investment Advisory Group LLC’s holdings in Coca-Cola were worth $243,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of KO. Ullmann Wealth Partners Group LLC increased its holdings in Coca-Cola by 74.8% in the third quarter. Ullmann Wealth Partners Group LLC now owns 13,809 shares of the company’s stock valued at $992,000 after buying an additional 5,908 shares during the last quarter. Swedbank AB increased its holdings in Coca-Cola by 16.8% in the third quarter. Swedbank AB now owns 1,963,008 shares of the company’s stock valued at $141,062,000 after buying an additional 282,579 shares during the last quarter. Occidental Asset Management LLC increased its holdings in Coca-Cola by 7.3% in the third quarter. Occidental Asset Management LLC now owns 10,116 shares of the company’s stock valued at $727,000 after buying an additional 688 shares during the last quarter. Cliftonlarsonallen Wealth Advisors LLC increased its holdings in Coca-Cola by 1.2% in the third quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 32,604 shares of the company’s stock valued at $2,343,000 after buying an additional 394 shares during the last quarter. Finally, Cornell Pochily Investment Advisors Inc. increased its holdings in Coca-Cola by 1.4% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 17,653 shares of the company’s stock valued at $1,269,000 after buying an additional 244 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coca-Cola 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Nancy Quan sold 18,484 shares of the 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 owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Insiders sold 376,096 shares of company stock worth $25,982,352 over the last ninety days. Company insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KO. Morgan Stanley boosted their price objective on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. TD Cowen boosted their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Truist Financial upped their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.33.

Check Out Our Latest Research Report on KO

Coca-Cola Stock Performance

Shares of NYSE KO traded up $0.02 during midday trading on Tuesday, hitting $70.36. 10,357,981 shares of the company’s stock were exchanged, compared to its average volume of 13,174,605. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The stock’s 50 day moving average price is $70.56 and its 200-day moving average price is $65.52. The firm has a market cap of $303.11 billion, a P/E ratio of 28.23, a PEG ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a twelve month low of $52.84 and a twelve month high of $73.53.

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

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.485 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.76%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Coca-Cola Company 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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