West Branch Capital LLC Has $2.23 Million Position in The Coca-Cola Company (NYSE:KO)

West Branch Capital LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,972 shares of the company’s stock after purchasing an additional 1,454 shares during the quarter. Coca-Cola makes up approximately 0.8% of West Branch Capital LLC’s portfolio, making the stock its 28th largest position. West Branch Capital LLC’s holdings in Coca-Cola were worth $2,226,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. New Millennium Group LLC acquired a new stake in Coca-Cola in the second quarter valued at approximately $26,000. Quarry LP acquired a new stake in Coca-Cola in the second quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new stake in Coca-Cola in the first quarter valued at approximately $28,000. ESL Trust Services LLC acquired a new stake in Coca-Cola in the first quarter valued at approximately $28,000. Finally, DiNuzzo Private Wealth Inc. lifted its stake in Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after acquiring an additional 206 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. BNP Paribas assumed coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price for the company. Royal Bank of Canada upped their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Morgan Stanley upped their price objective on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Wells Fargo & Company upped their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given 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 target price of $72.00.

Coca-Cola Price Performance

Shares of Coca-Cola stock traded up $0.54 during mid-day trading on Friday, reaching $70.44. 15,087,519 shares of the stock were exchanged, compared to its average volume of 13,165,565. The company has a market cap of $303.45 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. 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 firm has a 50-day simple moving average of $70.70 and a 200 day simple moving average of $65.76. The Coca-Cola Company has a fifty-two week low of $53.86 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 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 firm had revenue of $12.40 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. On average, sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insiders Place Their Bets

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 sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,398,603.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nancy Quan sold 18,482 shares of the firm’s 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 directly owns 223,330 shares in the company, valued at $15,398,603.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 356,792 shares of company stock valued at $24,728,364 in the last 90 days. 0.97% of the stock is currently owned by insiders.

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.