Gladstone Institutional Advisory LLC Acquires 3,415 Shares of The Coca-Cola Company (NYSE:KO)

Gladstone Institutional Advisory LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,619 shares of the company’s stock after buying an additional 3,415 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Coca-Cola were worth $5,650,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of KO. Price T Rowe Associates Inc. MD boosted its holdings in shares of Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Coca-Cola by 30.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after acquiring an additional 2,964,850 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Coca-Cola in the 2nd quarter valued at approximately $188,448,000. M&G Plc purchased a new stake in Coca-Cola in the first quarter worth $157,087,000. Finally, Pathway Financial Advisers LLC raised its holdings in Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after purchasing an additional 2,443,612 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Wells Fargo & Company boosted their price target on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Bank of America raised their price objective on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, TD Cowen boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Five 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 company’s stock. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’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 transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Nancy Quan sold 18,484 shares of the company’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 sale, the executive vice president now directly 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 42,397 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 261,870 shares of company stock valued at $18,256,369 in the last three months. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Performance

Shares of NYSE KO traded down $0.24 during midday trading on Friday, hitting $65.07. 2,935,566 shares of the company’s stock traded hands, compared to its average volume of 13,213,095. The Coca-Cola Company has a 1 year low of $56.06 and a 1 year high of $73.53. The stock has a market capitalization of $280.31 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 4.00 and a beta of 0.60. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The firm has a fifty day moving average of $70.39 and a 200 day moving average of $66.21.

Coca-Cola (NYSE:KO) last issued 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. The business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 earnings per share. On average, analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.98%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

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.