Mutual Advisors LLC Has $5 Million Holdings in The Coca-Cola Company (NYSE:KO)

Mutual Advisors LLC grew its position in The Coca-Cola Company (NYSE:KO) by 12.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 74,349 shares of the company’s stock after purchasing an additional 8,211 shares during the period. Mutual Advisors LLC’s holdings in Coca-Cola were worth $5,004,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. New Millennium Group LLC bought a new stake in Coca-Cola in the 2nd quarter valued at about $26,000. Quarry LP bought a new stake in shares of Coca-Cola in the second quarter valued at approximately $27,000. ESL Trust Services LLC acquired a new stake in Coca-Cola during the first quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. increased its stake in Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after acquiring an additional 206 shares during the period. Finally, Mount Lucas Management LP acquired a new position in Coca-Cola in the 2nd quarter valued at $38,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KO. 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. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. TD Cowen upped their price target 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. Bank of America boosted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company raised their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $65.92 on Thursday. The stock has a market cap of $283.98 billion, a price-to-earnings ratio of 26.37, a P/E/G ratio of 3.91 and a beta of 0.60. 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 Coca-Cola Company has a twelve month low of $56.06 and a twelve month high of $73.53. The company’s fifty day moving average is $70.47 and its 200 day moving average is $66.22.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. Sell-side 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. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 2.94%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nancy Quan sold 18,482 shares of the firm’s stock in a transaction on 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 319,005 shares of company stock valued at $22,198,147. 0.97% of the stock is currently owned by company 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.