Summit Trail Advisors LLC Acquires 4,470 Shares of The Coca-Cola Company (NYSE:KO)

Summit Trail Advisors LLC raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 20.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,286 shares of the company’s stock after purchasing an additional 4,470 shares during the quarter. Summit Trail Advisors LLC’s holdings in Coca-Cola were worth $1,901,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. New Millennium Group LLC purchased a new stake in shares of Coca-Cola during the second quarter worth about $26,000. Quarry LP bought a new stake in Coca-Cola during the 2nd quarter valued at $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the third quarter valued at approximately $36,000. Finally, Mount Lucas Management LP acquired a new stake in Coca-Cola in the second quarter worth about $38,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Trading Up 0.3 %

NYSE KO opened at $63.92 on Monday. The business has a 50 day simple moving average of $67.79 and a 200 day simple moving average of $66.57. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a one year low of $57.47 and a one year high of $73.53. The stock has a market capitalization of $275.35 billion, a P/E ratio of 26.41, a P/E/G ratio of 3.88 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period last year, the business earned $0.74 earnings per share. The business’s quarterly revenue was down .8% on a year-over-year basis. Research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.04%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Morgan Stanley lowered their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Barclays decreased their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Wells Fargo & Company raised their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $72.36.

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.