Custom Index Systems LLC Buys Shares of 2,843 The Coca-Cola Company (NYSE:KO)

Custom Index Systems LLC bought a new stake in shares of The Coca-Cola Company (NYSE:KO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,843 shares of the company’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in KO. Motiv8 Investments LLC boosted its stake in Coca-Cola by 10.3% in the 3rd quarter. Motiv8 Investments LLC now owns 14,968 shares of the company’s stock worth $1,076,000 after purchasing an additional 1,401 shares in the last quarter. Sterling Investment Advisors Ltd. raised its holdings in Coca-Cola by 6.8% in the third quarter. Sterling Investment Advisors Ltd. now owns 15,905 shares of the company’s stock worth $1,143,000 after buying an additional 1,012 shares during the last quarter. J.W. Cole Advisors Inc. lifted its stake in shares of Coca-Cola by 3.1% in the third quarter. J.W. Cole Advisors Inc. now owns 86,163 shares of the company’s stock worth $6,192,000 after buying an additional 2,552 shares in the last quarter. Barnes Pettey Financial Advisors LLC purchased a new stake in shares of Coca-Cola during the third quarter valued at approximately $205,000. Finally, State of Alaska Department of Revenue increased its position in shares of Coca-Cola by 4.8% during the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock valued at $32,895,000 after acquiring an additional 21,005 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction on 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 transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares in the company, 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 319,005 shares of company stock worth $22,198,147 over the last three months. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Trading Down 0.6 %

Shares of KO stock opened at $66.92 on Monday. The Coca-Cola Company has a 1 year low of $55.10 and a 1 year high of $73.53. The firm has a fifty day moving average price of $70.66 and a 200-day moving average price of $66.11. The company has a market cap of $288.29 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 3.91 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

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. 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 in the prior year, the business posted $0.74 earnings per share. The business’s quarterly revenue was down .8% on a year-over-year basis. As a group, equities analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. TD Cowen upped their price target 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 lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley lowered their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada lifted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $71.80.

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.