Exchange Traded Concepts LLC Has $10.29 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Exchange Traded Concepts LLC cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 4.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 143,187 shares of the company’s stock after selling 6,061 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Coca-Cola were worth $10,289,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Carnegie Investment Counsel lifted its position in Coca-Cola by 0.9% in the 3rd quarter. Carnegie Investment Counsel now owns 82,488 shares of the company’s stock worth $5,927,000 after buying an additional 761 shares in the last quarter. Retirement Planning Group LLC acquired a new position in shares of Coca-Cola in the third quarter worth $861,000. Annex Advisory Services LLC raised its holdings in shares of Coca-Cola by 11.3% during the third quarter. Annex Advisory Services LLC now owns 7,558 shares of the company’s stock worth $543,000 after acquiring an additional 769 shares in the last quarter. Brown Miller Wealth Management LLC acquired a new stake in Coca-Cola during the third quarter valued at $218,000. Finally, Ritholtz Wealth Management grew its stake in Coca-Cola by 2.9% in the third quarter. Ritholtz Wealth Management now owns 67,334 shares of the company’s stock valued at $4,839,000 after purchasing an additional 1,926 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Truist Financial upped their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Bank of America increased their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. BNP Paribas started coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price target for the company. Finally, Barclays raised their price objective on Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday. Five 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.33.

Insider Activity

In other news, EVP Nancy Quan sold 37,787 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $14,954,176.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Quan sold 37,787 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $66.96, for a total value of $2,530,217.52. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,954,176.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 376,096 shares of company stock valued at $25,982,352 over the last three months. 0.97% of the stock is owned by insiders.

Coca-Cola Trading Up 0.5 %

Shares of KO opened at $69.57 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a 50 day simple moving average of $70.51 and a 200-day simple moving average of $65.43. The Coca-Cola Company has a 1 year low of $52.43 and a 1 year high of $73.53. The stock has a market cap of $299.70 billion, a PE ratio of 27.83, a PEG ratio of 3.92 and a beta of 0.60.

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

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.485 per share. The ex-dividend date was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.79%. Coca-Cola’s payout ratio is 77.60%.

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.