Main Street Financial Solutions LLC Purchases 3,605 Shares of The Coca-Cola Company (NYSE:KO)

Main Street Financial Solutions LLC increased its position in The Coca-Cola Company (NYSE:KO) by 7.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,417 shares of the company’s stock after purchasing an additional 3,605 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Coca-Cola were worth $3,551,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Millennium Group LLC bought a new stake in shares of Coca-Cola in the 2nd quarter valued at $26,000. Quarry LP purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at about $27,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola in the 1st quarter worth about $28,000. Hara Capital LLC purchased a new stake in Coca-Cola during the 3rd quarter valued at about $35,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola during the 3rd quarter valued at approximately $36,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 102,533 shares of the stock in a transaction on Wednesday, August 21st. The stock was 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 directly owns 442,546 shares in the company, valued at $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 at this link. In other news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 303,748 shares of company stock worth $20,677,431. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Five 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. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Coca-Cola Stock Down 0.2 %

KO traded down $0.14 during trading on Wednesday, reaching $63.06. The company had a trading volume of 3,249,321 shares, compared to its average volume of 13,249,518. The business’s fifty day moving average price is $69.18 and its 200 day moving average price is $66.53. The company has a market cap of $271.65 billion, a P/E ratio of 26.03, a PEG ratio of 3.85 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a 12 month low of $56.70 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period last year, the firm posted $0.74 earnings per share. The business’s revenue was down .8% on a year-over-year basis. Equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

About Coca-Cola

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.