BluePath Capital Management LLC increased its holdings in The Coca-Cola Company (NYSE:KO – Free Report) by 7.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,055 shares of the company’s stock after acquiring an additional 2,027 shares during the quarter. Coca-Cola makes up 1.2% of BluePath Capital Management LLC’s portfolio, making the stock its 16th biggest position. BluePath Capital Management LLC’s holdings in Coca-Cola were worth $2,016,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Apella Capital LLC lifted its stake in Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after purchasing an additional 146 shares during the period. Investment Advisory Group LLC increased its holdings in shares of Coca-Cola by 4.5% during the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after buying an additional 146 shares in the last quarter. Elwood & Goetz Wealth Advisory Group LLC increased its holdings in shares of Coca-Cola by 2.2% during the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after buying an additional 149 shares in the last quarter. CCG Wealth Management LLC increased its holdings in shares of Coca-Cola by 4.3% during the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after buying an additional 149 shares in the last quarter. Finally, Investment Partners Asset Management Inc. increased its holdings in shares of Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Morgan Stanley dropped their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Bank of America raised their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Five research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.80.
Coca-Cola Stock Down 0.5 %
Coca-Cola stock opened at $65.00 on Friday. The stock has a market cap of $280.01 billion, a P/E ratio of 26.86, a P/E/G ratio of 4.00 and a beta of 0.60. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a twelve month low of $56.06 and a twelve month high of $73.53. The company’s 50-day moving average price is $70.29 and its two-hundred day moving average price is $66.26.
Coca-Cola (NYSE:KO – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the business posted $0.74 EPS. The business’s revenue was down .8% compared to the same quarter last year. As a group, analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.
Coca-Cola Announces Dividend
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 of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.98%. Coca-Cola’s payout ratio is presently 80.17%.
Insiders Place Their Bets
In other Coca-Cola news, EVP Lisa Chang sold 58,122 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the transaction, the executive vice president now owns 74,067 shares in the company, valued at $5,074,330.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, 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 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 $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,074,330.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 261,870 shares of company stock worth $18,256,369 in the last quarter. Corporate insiders own 0.97% of the company’s stock.
About Coca-Cola
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.
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