Proactive Wealth Strategies LLC Purchases New Position in The Coca-Cola Company (NYSE:KO)

Proactive Wealth Strategies LLC acquired a new stake in The Coca-Cola Company (NYSE:KO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 31,486 shares of the company’s stock, valued at approximately $2,263,000. Coca-Cola comprises about 1.3% of Proactive Wealth Strategies LLC’s investment portfolio, making the stock its 28th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. New Millennium Group LLC acquired a new position in Coca-Cola in the 2nd quarter worth about $26,000. Quarry LP bought a new stake in shares of Coca-Cola during the second quarter worth about $27,000. ESL Trust Services LLC acquired a new position in shares of Coca-Cola in the first quarter valued at approximately $28,000. Hara Capital LLC bought a new position in Coca-Cola in the 3rd quarter valued at approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock opened at $63.37 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The stock has a market cap of $272.99 billion, a P/E ratio of 26.19, a P/E/G ratio of 3.88 and a beta of 0.61. The company’s 50 day moving average price is $69.37 and its two-hundred day moving average price is $66.52. The Coca-Cola Company has a 52 week low of $56.60 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share 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 during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the firm earned $0.74 EPS. The company’s revenue was down .8% compared to the same quarter last year. On average, equities analysts predict that The Coca-Cola Company will post 2.85 earnings per share 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 given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley reduced their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company boosted their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $71.80.

Insider Buying and Selling at Coca-Cola

In related news, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Chang sold 40,334 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. 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 203,748 shares of company stock valued at $14,274,431 in the last 90 days. 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.