Fifth Third Wealth Advisors LLC Increases Holdings in The Coca-Cola Company (NYSE:KO)

Fifth Third Wealth Advisors LLC lifted its position in The Coca-Cola Company (NYSE:KO) by 16.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,694 shares of the company’s stock after buying an additional 13,509 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Coca-Cola were worth $6,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Lake Street Advisors Group LLC lifted its position in Coca-Cola by 60.8% during the first quarter. Lake Street Advisors Group LLC now owns 26,361 shares of the company’s stock valued at $1,626,000 after purchasing an additional 9,968 shares in the last quarter. Ossiam raised its position in shares of Coca-Cola by 157.0% during the first quarter. Ossiam now owns 175,804 shares of the company’s stock valued at $10,756,000 after buying an additional 107,393 shares during the last quarter. Evermay Wealth Management LLC lifted its holdings in shares of Coca-Cola by 4.0% in the first quarter. Evermay Wealth Management LLC now owns 8,519 shares of the company’s stock worth $525,000 after buying an additional 329 shares in the last quarter. Elgethun Capital Management boosted its position in shares of Coca-Cola by 7.3% during the first quarter. Elgethun Capital Management now owns 10,485 shares of the company’s stock worth $638,000 after acquiring an additional 710 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new position in Coca-Cola during the first quarter valued at $169,000. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 42,397 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 8.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. The trade was a 35.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 303,748 shares of company stock worth $20,677,431 over the last three months. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.2 %

Shares of Coca-Cola stock opened at $61.85 on Tuesday. The Coca-Cola Company has a 1 year low of $56.96 and a 1 year high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock has a market cap of $266.44 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 3.75 and a beta of 0.61. The firm’s 50-day moving average is $68.43 and its two-hundred day moving average is $66.54.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results 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 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period last year, the business posted $0.74 EPS. The business’s revenue was down .8% compared to the same quarter last year. As a group, research analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Wall Street Analysts Forecast Growth

KO has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Morgan Stanley reduced their price objective 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. Deutsche Bank Aktiengesellschaft increased their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. 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. Finally, Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.36.

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.