41,253 Shares in The Coca-Cola Company (NYSE:KO) Purchased by Meridian Wealth Management LLC

Meridian Wealth Management LLC bought a new position in The Coca-Cola Company (NYSE:KO) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 41,253 shares of the company’s stock, valued at approximately $2,964,000.

Other hedge funds have also recently modified their holdings of the company. Beaird Harris Wealth Management LLC raised its stake in Coca-Cola by 112.3% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,399 shares of the company’s stock valued at $86,000 after buying an additional 740 shares during the last quarter. Mount Yale Investment Advisors LLC boosted its stake in shares of Coca-Cola by 33.0% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 12,534 shares of the company’s stock worth $767,000 after buying an additional 3,111 shares during the last quarter. Transcendent Capital Group LLC grew its holdings in shares of Coca-Cola by 258.3% in the first quarter. Transcendent Capital Group LLC now owns 2,440 shares of the company’s stock worth $149,000 after acquiring an additional 1,759 shares during the period. QVR LLC purchased a new stake in Coca-Cola during the first quarter valued at $710,000. Finally, Silvercrest Asset Management Group LLC lifted its holdings in Coca-Cola by 0.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 428,062 shares of the company’s stock valued at $26,189,000 after acquiring an additional 3,008 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.2 %

Shares of KO stock opened at $63.92 on Friday. The stock’s 50-day moving average price is $67.79 and its 200-day moving average price is $66.51. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53. The stock has a market capitalization of $275.33 billion, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 3.87 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.

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, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the business posted $0.74 earnings per share. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. Equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.04%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Quan sold 18,484 shares of the firm’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 sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 160,881 shares of company stock valued at $10,693,244 over the last ninety days. 0.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KO. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. 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 research report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective 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. Barclays decreased their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Morgan Stanley decreased their price objective 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. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.