Rovin Capital UT ADV Takes $237,000 Position in The Coca-Cola Company (NYSE:KO)

Rovin Capital UT ADV bought a new stake in The Coca-Cola Company (NYSE:KO) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 3,296 shares of the company’s stock, valued at approximately $237,000.

Several other institutional investors also recently bought and sold shares of KO. Washington Trust Advisors Inc. increased its stake in Coca-Cola by 0.5% in the 3rd quarter. Washington Trust Advisors Inc. now owns 56,561 shares of the company’s stock worth $4,065,000 after purchasing an additional 296 shares during the period. United Bank boosted its position in Coca-Cola by 65.4% during the 3rd quarter. United Bank now owns 80,888 shares of the company’s stock valued at $5,813,000 after buying an additional 31,979 shares during the period. First Fiduciary Investment Counsel Inc. grew its holdings in Coca-Cola by 2.9% in the 3rd quarter. First Fiduciary Investment Counsel Inc. now owns 172,421 shares of the company’s stock worth $12,390,000 after acquiring an additional 4,787 shares during the last quarter. Holistic Planning LLC increased its position in shares of Coca-Cola by 9.2% in the third quarter. Holistic Planning LLC now owns 5,705 shares of the company’s stock valued at $410,000 after acquiring an additional 483 shares during the period. Finally, CWA Asset Management Group LLC bought a new position in shares of Coca-Cola during the third quarter valued at about $1,200,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KO has been the topic of several recent analyst reports. Citigroup raised their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Morgan Stanley reduced their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. TD Cowen lifted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company lifted their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Five 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 stock. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $71.80.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $63.92 on Friday. The company has a market capitalization of $275.35 billion, a PE ratio of 26.41, a PEG ratio of 3.87 and a beta of 0.61. The business has a fifty day moving average price of $69.56 and a 200-day moving average price of $66.44. The Coca-Cola Company has a 1-year low of $56.06 and a 1-year high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal 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 issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

Insider Buying and Selling

In other news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. 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 is accessible through this hyperlink. Also, EVP Lisa Chang sold 40,334 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,150,619.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 203,748 shares of company stock worth $14,274,431. 0.97% of the stock is owned by corporate insiders.

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.