Coastwise Capital Group LLC Acquires 1,338 Shares of The Coca-Cola Company (NYSE:KO)

Coastwise Capital Group LLC boosted its stake in The Coca-Cola Company (NYSE:KO) by 9.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,914 shares of the company’s stock after purchasing an additional 1,338 shares during the period. Coca-Cola comprises approximately 0.9% of Coastwise Capital Group LLC’s investment portfolio, making the stock its 28th biggest position. Coastwise Capital Group LLC’s holdings in Coca-Cola were worth $1,144,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Apella Capital LLC lifted its stake in shares of Coca-Cola by 1.4% in the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after purchasing an additional 146 shares during the period. Investment Advisory Group LLC boosted its stake in shares of Coca-Cola by 4.5% during the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after acquiring an additional 146 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC grew its position in shares of Coca-Cola by 2.2% during the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after acquiring an additional 149 shares during the period. CCG Wealth Management LLC increased its stake in shares of Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after purchasing an additional 149 shares in the last quarter. Finally, Investment Partners Asset Management Inc. lifted its position in Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays decreased their price objective on 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 reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Wells Fargo & Company lifted their target price 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. Finally, Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

NYSE:KO opened at $64.08 on Monday. The firm has a market capitalization of $276.04 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 3.89 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The business has a 50 day simple moving average of $67.07 and a 200-day simple moving average of $66.61. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating 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 net margin of 22.45% and a return on equity of 44.01%. The business’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 earnings per share. Equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid 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 3.03%. Coca-Cola’s dividend payout ratio is 80.17%.

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.