Altus Wealth Group LLC Invests $208,000 in The Coca-Cola Company (NYSE:KO)

Altus Wealth Group LLC acquired a new position in shares of The Coca-Cola Company (NYSE:KO) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,891 shares of the company’s stock, valued at approximately $208,000.

A number of other large investors have also recently made changes to their positions in KO. Price T Rowe Associates Inc. MD boosted its position in shares of Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Coca-Cola by 30.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after acquiring an additional 2,964,850 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in Coca-Cola during the 2nd quarter valued at approximately $188,448,000. M&G Plc purchased a new stake in Coca-Cola during the 1st quarter valued at approximately $157,087,000. Finally, Raymond James & Associates raised its stake in Coca-Cola by 42.6% during the 2nd quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock valued at $397,515,000 after acquiring an additional 1,866,348 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,398,603.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO James Quincey sold 42,397 shares of Coca-Cola stock in a transaction on Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction on 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 completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 356,792 shares of company stock valued at $24,728,364 over the last quarter. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. TD Cowen upped their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Barclays upped their price objective on Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Royal Bank of Canada increased their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. increased their target price on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.00.

Coca-Cola Price Performance

Coca-Cola stock traded down $1.29 during mid-day trading on Wednesday, hitting $68.16. 9,064,856 shares of the company were exchanged, compared to its average volume of 13,166,315. 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 business’s 50 day simple moving average is $70.75 and its two-hundred day simple moving average is $65.94. The company has a market capitalization of $293.63 billion, a P/E ratio of 27.78, a PEG ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 12-month low of $55.10 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last released 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. The company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share. Analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared 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. This represents a $1.94 annualized dividend and a yield of 2.85%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 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.