Moran Wealth Management LLC Increases Stake in The Coca-Cola Company (NYSE:KO)

Moran Wealth Management LLC grew its position in shares of The Coca-Cola Company (NYSE:KO) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,166 shares of the company’s stock after acquiring an additional 732 shares during the period. Moran Wealth Management LLC’s holdings in Coca-Cola were worth $2,814,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays lowered their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Truist Financial raised their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their target price 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. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola Stock Up 1.2 %

Shares of KO opened at $63.76 on Friday. The business’s 50 day moving average is $67.94 and its 200 day moving average is $66.50. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53. The company has a market capitalization of $274.67 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 3.80 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its 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 firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 earnings per share. 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. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.04%. Coca-Cola’s payout ratio is 80.17%.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 7.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 42,397 shares of Coca-Cola stock in a transaction dated 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 of the company’s stock, valued at approximately $30,987,070.92. This represents a 8.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,881 shares of company stock valued at $10,693,244. 0.97% of the stock is currently owned by insiders.

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.