Gladstone Institutional Advisory LLC Has $5.65 Million Holdings in The Coca-Cola Company (NYSE:KO)

Gladstone Institutional Advisory LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,619 shares of the company’s stock after purchasing an additional 3,415 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Coca-Cola were worth $5,650,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KO. Allspring Global Investments Holdings LLC lifted its holdings in Coca-Cola by 3.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 356,812 shares of the company’s stock valued at $21,830,000 after purchasing an additional 11,299 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Coca-Cola by 0.8% during the 1st quarter. Private Advisor Group LLC now owns 308,058 shares of the company’s stock worth $18,847,000 after buying an additional 2,540 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of Coca-Cola by 6.3% in the 1st quarter. Baillie Gifford & Co. now owns 806,495 shares of the company’s stock valued at $49,341,000 after buying an additional 47,593 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Coca-Cola by 1.8% during the first quarter. Janney Montgomery Scott LLC now owns 1,486,868 shares of the company’s stock worth $90,967,000 after acquiring an additional 26,704 shares during the last quarter. Finally, KFA Private Wealth Group LLC lifted its stake in shares of Coca-Cola by 5.0% during the first quarter. KFA Private Wealth Group LLC now owns 14,763 shares of the company’s stock valued at $903,000 after acquiring an additional 702 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Royal Bank of Canada lifted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Bank of America boosted their price objective 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. Five investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.80.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated 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 sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 261,870 shares of company stock worth $18,256,369. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

Shares of Coca-Cola stock traded down $0.24 during trading hours on Friday, hitting $65.07. 2,935,566 shares of the company’s stock traded hands, compared to its average volume of 13,213,095. The stock has a market capitalization of $280.31 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 4.00 and a beta of 0.60. The Coca-Cola Company has a 12-month low of $56.06 and a 12-month high of $73.53. 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 has a fifty day simple moving average of $70.39 and a 200-day simple moving average of $66.21.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the company earned $0.74 EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. Equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS 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. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

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.