Concord Wealth Partners Acquires 3,072 Shares of The Coca-Cola Company (NYSE:KO)

Concord Wealth Partners raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 4.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,187 shares of the company’s stock after purchasing an additional 3,072 shares during the period. Concord Wealth Partners’ holdings in Coca-Cola were worth $4,828,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Aviance Capital Partners LLC increased its stake in Coca-Cola by 249.1% during the 1st quarter. Aviance Capital Partners LLC now owns 23,634 shares of the company’s stock valued at $1,446,000 after purchasing an additional 16,864 shares in the last quarter. BKM Wealth Management LLC increased its position in shares of Coca-Cola by 23.2% during the first quarter. BKM Wealth Management LLC now owns 8,206 shares of the company’s stock valued at $502,000 after acquiring an additional 1,547 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Coca-Cola by 3.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 356,812 shares of the company’s stock valued at $21,830,000 after acquiring an additional 11,299 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its holdings in Coca-Cola by 3.7% in the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 11,132 shares of the company’s stock worth $681,000 after acquiring an additional 395 shares during the last quarter. Finally, Synergy Asset Management LLC lifted its position in Coca-Cola by 16.7% in the 1st quarter. Synergy Asset Management LLC now owns 353,611 shares of the company’s stock valued at $21,634,000 after acquiring an additional 50,489 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 319,005 shares of company stock worth $22,198,147 in the last three months. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KO. Deutsche Bank Aktiengesellschaft lifted their target price on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Barclays lowered their target price 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. TD Cowen lifted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, Citigroup increased their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.80.

Coca-Cola Stock Performance

NYSE:KO traded up $0.02 during mid-day trading on Monday, hitting $66.94. 2,781,665 shares of the company traded hands, compared to its average volume of 13,202,758. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The stock’s fifty day moving average price is $70.66 and its 200-day moving average price is $66.11. The firm has a market cap of $288.37 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 3.91 and a beta of 0.60. The Coca-Cola Company has a one year low of $55.42 and a one year high of $73.53.

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, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the company posted $0.74 EPS. The firm’s revenue was down .8% on a year-over-year basis. Research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 2.90%. Coca-Cola’s payout ratio is 77.60%.

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.