The Coca-Cola Company (NYSE:KO) Shares Acquired by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC increased its position in shares of The Coca-Cola Company (NYSE:KO) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,813 shares of the company’s stock after acquiring an additional 394 shares during the period. Prestige Wealth Management Group LLC’s holdings in Coca-Cola were worth $782,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. New Millennium Group LLC acquired a new stake in shares of Coca-Cola during the second quarter worth about $26,000. Quarry LP acquired a new stake in Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC purchased a new position in Coca-Cola in the 3rd quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola in the third quarter worth $36,000. Finally, Mount Lucas Management LP purchased a new stake in shares of Coca-Cola during the second quarter worth $38,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

Shares of KO stock opened at $62.63 on Tuesday. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The firm has a market cap of $269.80 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 3.80 and a beta of 0.61. The stock’s 50-day moving average is $66.03 and its two-hundred day moving average is $66.61.

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

Coca-Cola Announces Dividend

The firm also recently declared 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. This represents a $1.94 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KO. Morgan Stanley decreased their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Barclays cut 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, October 25th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Wells Fargo & Company dropped their price objective on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, December 2nd. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $72.14.

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.