Larson Financial Group LLC Acquires 8,837 Shares of The Coca-Cola Company (NYSE:KO)

Larson Financial Group LLC increased its position in shares of The Coca-Cola Company (NYSE:KO) by 37.4% during the third quarter, HoldingsChannel.com reports. The firm owned 32,462 shares of the company’s stock after buying an additional 8,837 shares during the period. Larson Financial Group LLC’s holdings in Coca-Cola were worth $2,333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Apella Capital LLC grew 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 buying an additional 146 shares during the period. Investment Advisory Group LLC raised 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 purchasing an additional 146 shares during the period. Elwood & Goetz Wealth Advisory Group LLC raised 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 purchasing an additional 149 shares during the period. CCG Wealth Management LLC grew its position 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 acquiring an additional 149 shares during the last quarter. Finally, Investment Partners Asset Management Inc. grew its position 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 acquiring an additional 150 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Up 0.3 %

Shares of Coca-Cola stock opened at $63.92 on Monday. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53. The stock has a market cap of $275.35 billion, a P/E ratio of 26.41, a P/E/G ratio of 3.88 and a beta of 0.61. 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 business’s 50 day moving average is $67.79 and its 200-day moving average is $66.57.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data 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 return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations 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. Equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

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

Insider Buying and Selling

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 business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. 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 report on Wednesday, October 16th. Morgan Stanley decreased their target price 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. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Wells Fargo & Company increased their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price 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.