Turtle Creek Wealth Advisors LLC Boosts Stock Position in The Coca-Cola Company (NYSE:KO)

Turtle Creek Wealth Advisors LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,468 shares of the company’s stock after purchasing an additional 605 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Coca-Cola were worth $680,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of KO. New Millennium Group LLC acquired a new position in Coca-Cola during the 2nd quarter worth approximately $26,000. Quarry LP purchased a new stake in shares of Coca-Cola in the second quarter valued at approximately $27,000. ESL Trust Services LLC acquired a new position in Coca-Cola during the first quarter worth $28,000. Hara Capital LLC purchased a new position in Coca-Cola in the third quarter worth $35,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola in the third quarter worth $36,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Down 1.3 %

KO traded down $0.81 during trading on Friday, hitting $61.74. The company’s stock had a trading volume of 26,284,331 shares, compared to its average volume of 13,364,542. The Coca-Cola Company has a twelve month low of $56.70 and a twelve month high of $73.53. The firm’s 50 day moving average price is $68.63 and its 200-day moving average price is $66.48. 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 stock has a market cap of $265.96 billion, a PE ratio of 25.51, a PEG ratio of 3.83 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion during 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%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 earnings per share. On average, analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current 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 paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The trade was a 18.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Lisa Chang sold 40,334 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This trade represents a 35.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 303,748 shares of company stock worth $20,677,431 in the last quarter. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on KO shares. Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley reduced their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, TD Cowen upped their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Four 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

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.