Weatherly Asset Management L. P. Grows Position in The Coca-Cola Company (NYSE:KO)

Weatherly Asset Management L. P. boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 8.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,683 shares of the company’s stock after acquiring an additional 7,431 shares during the period. Weatherly Asset Management L. P.’s holdings in Coca-Cola were worth $6,919,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of KO. New Millennium Group LLC purchased a new position in shares of Coca-Cola during the second quarter valued at about $26,000. Quarry LP bought a new position in Coca-Cola during the second quarter valued at approximately $27,000. ESL Trust Services LLC purchased a new position in Coca-Cola during the 1st quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. increased its stake in Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after acquiring an additional 206 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola during the 3rd quarter worth approximately $36,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on KO shares. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Citigroup increased their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Bank of America boosted their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Royal Bank of Canada raised their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their target price on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

Insider Buying and Selling

In other news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 261,870 shares of company stock worth $18,256,369 in the last three months. 0.97% of the stock is owned by insiders.

Coca-Cola Trading Down 0.5 %

KO opened at $65.00 on Friday. The Coca-Cola Company has a 52 week low of $56.06 and a 52 week high of $73.53. 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 stock’s fifty day moving average is $70.29 and its two-hundred day moving average is $66.26. The company has a market capitalization of $280.01 billion, a P/E ratio of 26.86, a PEG ratio of 4.00 and a beta of 0.60.

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

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

About Coca-Cola

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.