Novare Capital Management LLC Has $1.58 Million Position in The Coca-Cola Company (NYSE:KO)

Novare Capital Management LLC lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,958 shares of the company’s stock after selling 439 shares during the period. Novare Capital Management LLC’s holdings in Coca-Cola were worth $1,578,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KO. Chicago Partners Investment Group LLC grew its position in shares of Coca-Cola by 5.5% during the 4th quarter. Chicago Partners Investment Group LLC now owns 28,613 shares of the company’s stock worth $1,686,000 after buying an additional 1,487 shares during the period. Creekmur Asset Management LLC bought a new position in shares of Coca-Cola during the 4th quarter worth about $54,000. Richardson Financial Services Inc. acquired a new position in Coca-Cola during the 4th quarter worth approximately $208,000. Fisher Asset Management LLC boosted its holdings in Coca-Cola by 11,127.2% in the fourth quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock worth $293,043,000 after acquiring an additional 4,928,441 shares in the last quarter. Finally, Willner & Heller LLC acquired a new stake in Coca-Cola in the fourth quarter valued at approximately $228,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

NYSE KO traded up $0.38 during trading hours on Monday, reaching $69.95. 1,565,976 shares of the company were exchanged, compared to its average volume of 13,158,060. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $301.34 billion, a P/E ratio of 27.94, a P/E/G ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 1 year low of $52.84 and a 1 year high of $73.53. The business’s 50 day simple moving average is $70.51 and its 200-day simple moving average is $65.46.

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

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.77%. The ex-dividend date was Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Quincey sold 42,397 shares of Coca-Cola 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 376,096 shares of company stock worth $25,982,352. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on KO shares. JPMorgan Chase & Co. increased their target price on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Barclays raised their price objective on shares of Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday. TD Cowen upped their target price 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. Truist Financial lifted their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, 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. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $71.33.

Coca-Cola 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.