McClarren Financial Advisors Inc. Purchases 1,343 Shares of The Coca-Cola Company (NYSE:KO)

McClarren Financial Advisors Inc. grew its stake in The Coca-Cola Company (NYSE:KO) by 352.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,724 shares of the company’s stock after buying an additional 1,343 shares during the period. McClarren Financial Advisors Inc.’s holdings in Coca-Cola were worth $124,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Millennium Group LLC purchased a new position in Coca-Cola in the 2nd quarter worth approximately $26,000. Quarry LP purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at $27,000. ESL Trust Services LLC purchased a new stake in shares of Coca-Cola in the 1st quarter valued at $28,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Coca-Cola in the 1st quarter valued at $28,000. Finally, DiNuzzo Private Wealth Inc. boosted its stake in shares of Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.8 %

NYSE KO traded up $0.54 during trading on Friday, hitting $70.44. The company had a trading volume of 15,087,519 shares, compared to its average volume of 13,165,565. 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 one year low of $53.86 and a one year high of $73.53. The company has a market cap of $303.45 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The company’s fifty day moving average is $70.70 and its 200-day moving average is $65.76.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results 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 company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. On average, sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 2.75%. Coca-Cola’s payout ratio is 77.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on KO shares. Bank of America upped their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. TD Cowen upped their price objective 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 lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Citigroup upped their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 37,787 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Nancy Quan sold 37,787 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bruno Pietracci sold 38,653 shares of the 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 disclosure for this sale can be found here. Insiders sold a total of 356,792 shares of company stock worth $24,728,364 in the last three months. 0.97% of the stock is owned by corporate insiders.

Coca-Cola 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.