The Coca-Cola Company (NYSE:KO) is Meadow Creek Wealth Advisors LLC’s 2nd Largest Position

Meadow Creek Wealth Advisors LLC boosted its holdings in The Coca-Cola Company (NYSE:KO) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 142,688 shares of the company’s stock after buying an additional 2,747 shares during the quarter. Coca-Cola accounts for approximately 8.1% of Meadow Creek Wealth Advisors LLC’s holdings, making the stock its 2nd biggest position. Meadow Creek Wealth Advisors LLC’s holdings in Coca-Cola were worth $10,254,000 as of its most recent SEC filing.

Other hedge funds 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 about $26,000. Quarry LP purchased a new stake in shares of Coca-Cola during the 2nd quarter valued at about $27,000. ESL Trust Services LLC purchased a new stake in shares of Coca-Cola during the 1st quarter valued at about $28,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Coca-Cola during the 1st quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. increased its position in shares of Coca-Cola by 65.0% during 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 during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In other news, EVP Nancy Quan sold 18,484 shares of the 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 directly owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO James Quincey sold 42,397 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was 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 in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 356,792 shares of company stock worth $24,728,364. 0.97% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on KO. Barclays upped their price target on shares of Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. 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 research report on Wednesday, July 24th. Bank of America upped 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. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Wells Fargo & Company increased their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Coca-Cola Trading Down 2.2 %

KO stock opened at $67.90 on Wednesday. The Coca-Cola Company has a 1-year low of $55.10 and a 1-year high of $73.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The company has a market capitalization of $292.51 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 3.92 and a beta of 0.60. The business has a 50 day simple moving average of $70.75 and a two-hundred day simple moving average of $65.94.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 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 $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same period in the prior year, the company posted $0.78 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.86%. Coca-Cola’s dividend payout ratio is currently 77.60%.

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.