Constitution Capital LLC Acquires 46,035 Shares of The Coca-Cola Company (NYSE:KO)

Constitution Capital LLC lifted its holdings in The Coca-Cola Company (NYSE:KO) by 120.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,244 shares of the company’s stock after acquiring an additional 46,035 shares during the period. Coca-Cola makes up 3.2% of Constitution Capital LLC’s portfolio, making the stock its 9th biggest position. Constitution Capital LLC’s holdings in Coca-Cola were worth $6,054,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Adamsbrown Wealth Consultants LLC grew its stake in shares of Coca-Cola by 6.8% in the third quarter. Adamsbrown Wealth Consultants LLC now owns 4,959 shares of the company’s stock valued at $356,000 after buying an additional 317 shares in the last quarter. Cherrydale Wealth Management LLC purchased a new position in Coca-Cola in the 3rd quarter worth approximately $217,000. Stablepoint Partners LLC grew its position in Coca-Cola by 0.5% in the third quarter. Stablepoint Partners LLC now owns 106,029 shares of the company’s stock valued at $7,619,000 after acquiring an additional 576 shares in the last quarter. Sapient Capital LLC raised its stake in shares of Coca-Cola by 0.4% during the third quarter. Sapient Capital LLC now owns 315,167 shares of the company’s stock valued at $22,801,000 after purchasing an additional 1,259 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Coca-Cola during the third quarter valued at approximately $58,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lisa Chang sold 58,122 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total value of $3,981,938.22. Following the transaction, the executive vice president now directly owns 74,067 shares in the company, valued at $5,074,330.17. This trade 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 376,096 shares of company stock valued at $25,982,352 in the last quarter. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on KO shares. Morgan Stanley raised their price target on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Barclays lifted their target price on Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Wells Fargo & Company raised their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.33.

Coca-Cola Stock Performance

NYSE KO traded up $0.13 during trading hours on Monday, reaching $69.70. The company’s stock had a trading volume of 549,590 shares, compared to its average volume of 13,152,927. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The business has a 50-day simple moving average of $70.51 and a 200 day simple moving average of $65.46. The Coca-Cola Company has a 52 week low of $52.84 and a 52 week high of $73.53. The stock has a market cap of $300.26 billion, a PE ratio of 27.83, a PEG ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.78 EPS. 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 company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.485 per share. The ex-dividend date was Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.78%. Coca-Cola’s dividend payout ratio is currently 77.60%.

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.