The Coca-Cola Company (NYSE:KO) Shares Bought by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC grew its stake in The Coca-Cola Company (NYSE:KO) by 16.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,694 shares of the company’s stock after purchasing an additional 13,509 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Coca-Cola were worth $6,733,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in shares of Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Coca-Cola in the second quarter valued at approximately $188,448,000. Pathway Financial Advisers LLC boosted its stake in shares of Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after acquiring an additional 2,443,612 shares during the last quarter. Raymond James & Associates raised its stake in Coca-Cola by 42.6% in the 2nd quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock valued at $397,515,000 after purchasing an additional 1,866,348 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Coca-Cola by 7,792.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,744,302 shares of the company’s stock valued at $125,346,000 after purchasing an additional 1,722,202 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Up 0.2 %

Shares of NYSE:KO opened at $61.85 on Tuesday. The Coca-Cola Company has a fifty-two week low of $56.96 and a fifty-two week high of $73.53. The firm’s 50 day moving average price is $68.43 and its 200 day moving average price is $66.54. 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 $266.44 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 3.75 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data 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. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $0.74 EPS. As a group, equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 102,533 shares of the firm’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 directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 18.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 303,748 shares of company stock valued at $20,677,431 over the last three months. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on KO. Morgan Stanley reduced their target price 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. TD Cowen lifted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Truist Financial boosted 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. Deutsche Bank Aktiengesellschaft lifted their price target 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. Finally, Wells Fargo & Company increased their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Four equities research 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

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.