The Coca-Cola Company (NYSE:KO) Holdings Raised by Verum Partners LLC

Verum Partners LLC boosted its stake in The Coca-Cola Company (NYSE:KO) by 0.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 62,289 shares of the company’s stock after acquiring an additional 151 shares during the quarter. Coca-Cola comprises 1.3% of Verum Partners LLC’s holdings, making the stock its 15th biggest position. Verum Partners LLC’s holdings in Coca-Cola were worth $4,476,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of KO. New Millennium Group LLC acquired a new stake in shares of Coca-Cola in the second quarter valued at $26,000. Quarry LP bought a new stake in Coca-Cola in the second quarter worth about $27,000. ESL Trust Services LLC acquired a new stake in Coca-Cola in the 1st quarter valued at about $28,000. Redmont Wealth Advisors LLC bought a new position in shares of Coca-Cola during the 1st quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. boosted its position in shares of Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.1 %

Shares of NYSE KO traded down $0.09 during mid-day trading on Wednesday, reaching $70.25. The company had a trading volume of 619,525 shares, compared to its average volume of 13,111,837. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The company has a market capitalization of $302.63 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 3.92 and a beta of 0.60. The stock has a fifty day moving average of $70.60 and a two-hundred day moving average of $65.59. The Coca-Cola Company has a 12-month low of $53.21 and a 12-month high of $73.53.

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

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.76%. Coca-Cola’s payout ratio is 77.60%.

Analysts Set New Price Targets

KO has been the subject of several recent research reports. Barclays increased their target price on shares of Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Royal Bank of Canada increased their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Truist Financial lifted their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Bank of America boosted their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Citigroup increased their price target on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.33.

Insider Buying and Selling at Coca-Cola

In other news, 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 transaction of $2,530,217.52. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,954,176.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nancy Quan sold 37,787 shares of the 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 transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders have sold 356,792 shares of company stock worth $24,728,364 over the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

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.