The Coca-Cola Company (NYSE:KO) Stake Increased by L & S Advisors Inc

L & S Advisors Inc grew its position in shares of The Coca-Cola Company (NYSE:KO) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,121 shares of the company’s stock after buying an additional 475 shares during the period. L & S Advisors Inc’s holdings in Coca-Cola were worth $799,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in KO. Apella Capital LLC increased its stake in shares of Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after buying an additional 146 shares during the period. Investment Advisory Group LLC boosted its holdings in Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after acquiring an additional 146 shares in the last quarter. Elwood & Goetz Wealth Advisory Group LLC increased its stake in Coca-Cola by 2.2% during the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after purchasing an additional 149 shares in the last quarter. CCG Wealth Management LLC raised its stake in Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after acquiring an additional 149 shares during the last quarter. Finally, Investment Partners Asset Management Inc. boosted its position in Coca-Cola by 2.2% in the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after buying an additional 150 shares during the last quarter. 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 the business’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 transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The trade was a 7.64 % 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, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 160,881 shares of company stock valued at $10,693,244. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 1.2 %

Shares of Coca-Cola stock opened at $63.76 on Friday. 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 company’s fifty day moving average price is $67.94 and its two-hundred day moving average price is $66.50. The firm has a market capitalization of $274.67 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 3.80 and a beta of 0.61. The Coca-Cola Company has a 52-week low of $57.47 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last released 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 for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 EPS. On average, analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.04%. Coca-Cola’s payout ratio is presently 80.17%.

Analyst Upgrades and Downgrades

KO has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. TD Cowen increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Truist Financial upped their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Barclays lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Four equities research 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.