Cetera Advisor Networks LLC lifted its position in The Coca-Cola Company (NYSE:KO – Free Report) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 464,059 shares of the company’s stock after acquiring an additional 3,786 shares during the period. Cetera Advisor Networks LLC’s holdings in Coca-Cola were worth $27,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC purchased a new stake in shares of Coca-Cola during the first quarter worth $25,000. Freedom Wealth Alliance LLC purchased a new stake in Coca-Cola during the 4th quarter worth about $25,000. Paladin Advisory Group LLC acquired a new position in shares of Coca-Cola during the second quarter worth about $28,000. Fortis Capital Advisors LLC acquired a new stake in Coca-Cola in the fourth quarter valued at approximately $30,000. Finally, NewSquare Capital LLC lifted its stake in Coca-Cola by 62.5% in the first quarter. NewSquare Capital LLC now owns 507 shares of the company’s stock worth $31,000 after acquiring an additional 195 shares during the last quarter. 68.96% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on KO shares. Barclays reduced their price objective on shares of Coca-Cola from $70.00 to $59.00 and set an “overweight” rating on the stock in a report on Thursday, October 12th. Royal Bank of Canada lifted their price target on Coca-Cola from $69.00 to $70.00 in a report on Thursday, July 27th. Jefferies Financial Group assumed coverage on Coca-Cola in a report on Monday. They issued a “hold” rating and a $64.00 price objective on the stock. Bank of America dropped their price target on shares of Coca-Cola from $74.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. Finally, Morgan Stanley reduced their price objective on shares of Coca-Cola from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, October 25th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $66.20.
Coca-Cola Trading Up 0.2 %
Shares of Coca-Cola stock opened at $57.21 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.97 and a current ratio of 1.14. The company has a market capitalization of $247.34 billion, a P/E ratio of 22.98, a PEG ratio of 3.44 and a beta of 0.59. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.99. The company’s fifty day moving average is $56.07 and its two-hundred day moving average is $59.43.
Coca-Cola (NYSE:KO – Get Free Report) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. Coca-Cola had a return on equity of 42.44% and a net margin of 23.92%. The firm had revenue of $11.95 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Analysts forecast that The Coca-Cola Company will post 2.68 earnings per share for the current year.
Coca-Cola Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Thursday, November 30th. Coca-Cola’s dividend payout ratio (DPR) is presently 73.90%.
Insider Transactions at Coca-Cola
In other Coca-Cola news, CEO James Quincey sold 92,029 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $58.09, for a total transaction of $5,345,964.61. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $25,707,497.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Beatriz R. Perez sold 20,534 shares of the business’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $56.12, for a total transaction of $1,152,368.08. Following the sale, the senior vice president now owns 143,383 shares of the company’s stock, valued at $8,046,653.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 92,029 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $58.09, for a total transaction of $5,345,964.61. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $25,707,497.14. The disclosure for this sale can be found here. Insiders have sold a total of 204,592 shares of company stock worth $11,455,015 over the last ninety days. 1.00% of the stock is currently owned by company insiders.
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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