The Coca-Cola Company (NYSE:KO) Stake Increased by Summit Trail Advisors LLC

Summit Trail Advisors LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 20.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 26,286 shares of the company’s stock after purchasing an additional 4,470 shares during the period. Summit Trail Advisors LLC’s holdings in Coca-Cola were worth $1,901,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Apella Capital LLC boosted its position in Coca-Cola by 1.4% during the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after acquiring an additional 146 shares during the last quarter. Investment Advisory Group LLC increased its stake in Coca-Cola by 4.5% in the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after buying an additional 146 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC grew its holdings in shares of Coca-Cola by 2.2% in the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after acquiring an additional 149 shares in the last quarter. CCG Wealth Management LLC increased its position in shares of Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after acquiring an additional 149 shares during the last quarter. Finally, Investment Partners Asset Management Inc. boosted its position in Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KO has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Barclays decreased their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Morgan Stanley decreased their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.36.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This represents a 7.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $63.92 on Monday. The firm’s fifty day simple moving average is $67.79 and its two-hundred day simple moving average is $66.57. The Coca-Cola Company has a 12 month low of $57.47 and a 12 month high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $275.35 billion, a P/E ratio of 26.41, a price-to-earnings-growth ratio of 3.88 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. As a group, analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

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 issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 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.