3,015 Shares in The Coca-Cola Company (NYSE:KO) Bought by Cherrydale Wealth Management LLC

Cherrydale Wealth Management LLC bought a new stake in The Coca-Cola Company (NYSE:KO) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,015 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB acquired a new position in shares of Coca-Cola in the first quarter worth approximately $102,604,000. BDF Gestion bought a new stake in shares of Coca-Cola during the second quarter valued at approximately $7,421,000. Duality Advisers LP increased its holdings in shares of Coca-Cola by 191.1% during the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock valued at $6,843,000 after acquiring an additional 73,434 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Coca-Cola by 0.7% during the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock valued at $179,578,000 after acquiring an additional 20,048 shares in the last quarter. Finally, New Mexico Educational Retirement Board increased its holdings in shares of Coca-Cola by 11.6% during the first quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock valued at $14,013,000 after acquiring an additional 23,500 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,507,516.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,507,516.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 376,096 shares of company stock worth $25,982,352 in the last ninety days. 0.97% of the stock is owned by company insiders.

Coca-Cola Price Performance

KO traded up $0.10 during trading on Monday, reaching $69.67. 537,717 shares of the company were exchanged, compared to its average volume of 13,152,867. The company has a market cap of $300.14 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 3.92 and a beta of 0.60. 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 company’s 50-day moving average is $70.51 and its two-hundred day moving average is $65.46. The Coca-Cola Company has a 12-month low of $52.84 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. Research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.78%. The ex-dividend date was Friday, September 13th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Analysts Set New Price Targets

KO has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. BNP Paribas started coverage on Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target for the company. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Morgan Stanley boosted their price objective on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Finally, 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 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 given a strong buy rating to the company. According to MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $71.33.

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.