Rovin Capital UT ADV Makes New Investment in The Coca-Cola Company (NYSE:KO)

Rovin Capital UT ADV acquired a new stake in shares of The Coca-Cola Company (NYSE:KO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,296 shares of the company’s stock, valued at approximately $237,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Washington Trust Advisors Inc. increased its holdings in shares of Coca-Cola by 0.5% during the third quarter. Washington Trust Advisors Inc. now owns 56,561 shares of the company’s stock worth $4,065,000 after buying an additional 296 shares in the last quarter. United Bank raised its position in Coca-Cola by 65.4% in the third quarter. United Bank now owns 80,888 shares of the company’s stock valued at $5,813,000 after purchasing an additional 31,979 shares during the last quarter. First Fiduciary Investment Counsel Inc. raised its position in Coca-Cola by 2.9% in the third quarter. First Fiduciary Investment Counsel Inc. now owns 172,421 shares of the company’s stock valued at $12,390,000 after purchasing an additional 4,787 shares during the last quarter. Holistic Planning LLC grew its holdings in shares of Coca-Cola by 9.2% during the third quarter. Holistic Planning LLC now owns 5,705 shares of the company’s stock worth $410,000 after purchasing an additional 483 shares during the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in shares of Coca-Cola in the third quarter valued at approximately $1,200,000. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KO. Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft increased their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Citigroup upped their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, TD Cowen lifted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.80.

Coca-Cola Stock Up 0.4 %

Coca-Cola stock opened at $63.92 on Friday. The firm has a market capitalization of $275.35 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 3.87 and a beta of 0.61. The firm has a 50 day simple moving average of $69.56 and a 200 day simple moving average of $66.44. The Coca-Cola Company has a 1-year low of $56.06 and a 1-year high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

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

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of Coca-Cola 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 sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 203,748 shares of company stock worth $14,274,431 in the last three months. 0.97% of the stock is currently owned by corporate insiders.

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.