Proactive Wealth Strategies LLC Makes New $2.26 Million Investment in The Coca-Cola Company (NYSE:KO)

Proactive Wealth Strategies LLC purchased a new stake in The Coca-Cola Company (NYSE:KO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 31,486 shares of the company’s stock, valued at approximately $2,263,000. Coca-Cola makes up 1.3% of Proactive Wealth Strategies LLC’s holdings, making the stock its 28th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in KO. New Millennium Group LLC bought a new stake in shares of Coca-Cola during the 2nd quarter worth about $26,000. Quarry LP acquired a new stake in Coca-Cola in the 2nd quarter worth approximately $27,000. ESL Trust Services LLC bought a new stake in Coca-Cola during the first quarter worth approximately $28,000. Hara Capital LLC bought a new position in shares of Coca-Cola in the third quarter valued at approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola in the third quarter worth $36,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on KO shares. Citigroup increased their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Morgan Stanley dropped their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Barclays decreased their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Five 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.80.

Coca-Cola Price Performance

Coca-Cola stock opened at $63.37 on Tuesday. The stock has a market cap of $272.99 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 3.88 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $56.60 and a 12-month 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 business’s 50-day simple moving average is $69.37 and its 200 day simple moving average is $66.52.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued 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 yield of 3.06%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insider Buying and Selling at Coca-Cola

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 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO James Quincey sold 42,397 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated Tuesday, August 27th. The stock was 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 $15,968,095. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 203,748 shares of company stock valued at $14,274,431. Company insiders own 0.97% of the company’s stock.

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.