Private Advisor Group LLC Acquires 3,664 Shares of The Coca-Cola Company (NYSE:KO)

Private Advisor Group LLC raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.1% in the third quarter, HoldingsChannel.com reports. The firm owned 335,938 shares of the company’s stock after buying an additional 3,664 shares during the period. Private Advisor Group LLC’s holdings in Coca-Cola were worth $24,141,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Annex Advisory Services LLC grew its stake in shares of Coca-Cola by 3.6% in the 1st quarter. Annex Advisory Services LLC now owns 6,322 shares of the company’s stock worth $387,000 after acquiring an additional 222 shares in the last quarter. Brookstone Capital Management grew its stake in shares of Coca-Cola by 67.4% in the 1st quarter. Brookstone Capital Management now owns 78,799 shares of the company’s stock worth $4,821,000 after acquiring an additional 31,740 shares in the last quarter. AHL Investment Management Inc. grew its stake in shares of Coca-Cola by 1.2% in the 1st quarter. AHL Investment Management Inc. now owns 117,684 shares of the company’s stock worth $7,200,000 after acquiring an additional 1,338 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Coca-Cola in the 1st quarter worth $126,000. Finally, Sovereign Financial Group Inc. grew its stake in shares of Coca-Cola by 9.5% in the 1st quarter. Sovereign Financial Group Inc. now owns 12,100 shares of the company’s stock worth $740,000 after acquiring an additional 1,049 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KO. 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 note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Bank of America increased their price target on shares of 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 increased their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Coca-Cola Price Performance

NYSE KO opened at $69.45 on Wednesday. The company has a market cap of $299.19 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 52 week low of $54.04 and a 52 week high of $73.53. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The firm’s 50-day simple moving average is $70.75 and its two-hundred day simple moving average is $65.94.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. Research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 77.60%.

Insider Transactions at Coca-Cola

In other news, 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 value of $2,667,443.53. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Nancy Quan sold 18,482 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction that occurred on 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. Over the last ninety days, insiders have sold 356,792 shares of company stock valued at $24,728,364. 0.97% of the stock is currently 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.