Perfromance Wealth Partners LLC lifted its holdings in The Coca-Cola Company (NYSE:KO – Get Rating) by 94.6% during the 3rd quarter, Holdings Channel reports. The fund owned 57,379 shares of the company’s stock after acquiring an additional 27,894 shares during the quarter. Perfromance Wealth Partners LLC’s holdings in Coca-Cola were worth $3,214,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Horizons Wealth Management acquired a new position in shares of Coca-Cola in the 2nd quarter worth approximately $34,000. LFA Lugano Financial Advisors SA acquired a new position in Coca-Cola during the 2nd quarter worth $34,000. Corbenic Partners LLC lifted its holdings in Coca-Cola by 626.2% during the 2nd quarter. Corbenic Partners LLC now owns 915 shares of the company’s stock worth $58,000 after buying an additional 789 shares in the last quarter. Orion Capital Management LLC acquired a new position in Coca-Cola during the 2nd quarter worth $63,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in Coca-Cola during the 1st quarter worth $73,000. 68.74% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Coca-Cola news, insider Brian John Smith sold 94,200 shares of the stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $63.02, for a total transaction of $5,936,484.00. Following the completion of the transaction, the insider now owns 116,168 shares in the company, valued at approximately $7,320,907.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Brian John Smith sold 94,200 shares of the stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $63.02, for a total transaction of $5,936,484.00. Following the completion of the transaction, the insider now directly owns 116,168 shares in the company, valued at approximately $7,320,907.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Nancy Quan sold 13,746 shares of the stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $61.12, for a total transaction of $840,155.52. Following the transaction, the senior vice president now owns 184,710 shares of the company’s stock, valued at $11,289,475.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 150,014 shares of company stock worth $9,336,898. Corporate insiders own 0.98% of the company’s stock.
Coca-Cola Price Performance
KO opened at $63.80 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.45. The Coca-Cola Company has a 12 month low of $54.01 and a 12 month high of $67.20. The company has a fifty day simple moving average of $60.81 and a 200 day simple moving average of $61.22. The stock has a market cap of $275.90 billion, a P/E ratio of 27.86, a P/E/G ratio of 4.07 and a beta of 0.59.
Coca-Cola (NYSE:KO – Get Rating) last released its earnings results on Tuesday, October 25th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The firm had revenue of $11.06 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Coca-Cola had a return on equity of 42.75% and a net margin of 23.44%. On average, research analysts expect that The Coca-Cola Company will post 2.48 EPS for the current year.
Coca-Cola Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Wednesday, November 30th. Coca-Cola’s dividend payout ratio (DPR) is presently 76.86%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on KO shares. Morgan Stanley reduced their price objective on Coca-Cola from $74.00 to $68.00 and set an “overweight” rating on the stock in a report on Tuesday, October 4th. HSBC upped their price objective on Coca-Cola from $72.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Wedbush began coverage on Coca-Cola in a report on Monday, October 10th. They set an “outperform” rating and a $63.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Coca-Cola from $59.00 to $62.00 and gave the company a “hold” rating in a research report on Tuesday, December 6th. Finally, Wolfe Research began coverage on shares of Coca-Cola in a research report on Tuesday, October 11th. They set an “outperform” rating and a $63.00 target price for the company. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $66.90.
Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. 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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