Moran Wealth Management LLC Purchases 732 Shares of The Coca-Cola Company (NYSE:KO)

Moran Wealth Management LLC raised its position in The Coca-Cola Company (NYSE:KO) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,166 shares of the company’s stock after acquiring an additional 732 shares during the period. Moran Wealth Management LLC’s holdings in Coca-Cola were worth $2,814,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. EagleClaw Capital Managment LLC grew its position in Coca-Cola by 4.5% during the third quarter. EagleClaw Capital Managment LLC now owns 16,354 shares of the company’s stock valued at $1,175,000 after buying an additional 700 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of Coca-Cola in the 3rd quarter valued at about $1,560,000. First Horizon Advisors Inc. raised its holdings in Coca-Cola by 4.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 189,110 shares of the company’s stock worth $13,589,000 after purchasing an additional 8,491 shares during the period. Advisors Asset Management Inc. boosted its position in Coca-Cola by 11.7% during the third quarter. Advisors Asset Management Inc. now owns 439,498 shares of the company’s stock worth $31,582,000 after purchasing an additional 46,011 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Coca-Cola by 105.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 559,316 shares of the company’s stock valued at $40,192,000 after purchasing an additional 287,167 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on KO. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price target 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. Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Four research 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. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola Stock Up 1.2 %

KO stock opened at $63.76 on Friday. The stock has a market cap of $274.67 billion, a P/E ratio of 26.35, a PEG ratio of 3.80 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The company’s 50 day moving average is $67.94 and its two-hundred day moving average is $66.50.

Coca-Cola (NYSE:KO) last announced its quarterly 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. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. Research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 3.04%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the 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 sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The trade was a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 160,881 shares of company stock worth $10,693,244. 0.97% of the stock is owned by insiders.

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.