The Coca-Cola Company (NYSE:KO) Stock Position Lifted by Concord Asset Management LLC VA

Concord Asset Management LLC VA lifted its holdings in The Coca-Cola Company (NYSE:KO) by 9.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 59,189 shares of the company’s stock after purchasing an additional 5,234 shares during the period. Concord Asset Management LLC VA’s holdings in Coca-Cola were worth $4,253,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of KO. Edgestream Partners L.P. boosted its position in shares of Coca-Cola by 46.2% during the first quarter. Edgestream Partners L.P. now owns 43,301 shares of the company’s stock worth $2,649,000 after buying an additional 13,675 shares during the period. Catalytic Wealth RIA LLC acquired a new stake in shares of Coca-Cola in the first quarter valued at $733,000. Covestor Ltd boosted its position in shares of Coca-Cola by 19.8% during the 1st quarter. Covestor Ltd now owns 3,912 shares of the company’s stock valued at $239,000 after purchasing an additional 646 shares in the last quarter. Davis R M Inc. boosted its holdings in Coca-Cola by 14.2% during the first quarter. Davis R M Inc. now owns 19,878 shares of the company’s stock worth $1,216,000 after buying an additional 2,473 shares in the last quarter. Finally, Bahl & Gaynor Inc. boosted its stake in shares of Coca-Cola by 0.7% during the 1st quarter. Bahl & Gaynor Inc. now owns 1,561,987 shares of the company’s stock worth $95,562,000 after acquiring an additional 10,826 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 7.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 100,000 shares of the firm’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 approximately $21,933,220.38. This trade represents a 22.60 % 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 ninety days. 0.97% of the stock is owned by insiders.

Coca-Cola Price Performance

NYSE:KO opened at $61.74 on Friday. The Coca-Cola Company has a 52 week low of $56.70 and a 52 week high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company has a market capitalization of $265.96 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 3.75 and a beta of 0.61. The company has a 50-day moving average of $68.63 and a 200-day moving average of $66.51.

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, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 earnings per share. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Citigroup boosted their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Barclays dropped their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Royal Bank of Canada lifted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Four 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 company. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus 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.