Cyndeo Wealth Partners LLC Has $14.93 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Cyndeo Wealth Partners LLC lifted its stake in The Coca-Cola Company (NYSE:KO) by 28.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 207,701 shares of the company’s stock after acquiring an additional 46,124 shares during the quarter. Coca-Cola makes up approximately 1.0% of Cyndeo Wealth Partners LLC’s investment portfolio, making the stock its 23rd largest position. Cyndeo Wealth Partners LLC’s holdings in Coca-Cola were worth $14,925,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. New Millennium Group LLC bought a new position in Coca-Cola during the second quarter worth about $26,000. Quarry LP bought a new position in Coca-Cola during the second quarter worth about $27,000. Redmont Wealth Advisors LLC bought a new position in Coca-Cola during the first quarter worth about $28,000. ESL Trust Services LLC bought a new position in Coca-Cola during the first quarter worth about $28,000. Finally, DiNuzzo Private Wealth Inc. grew its holdings in Coca-Cola by 65.0% during the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 37,787 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,954,176.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nancy Quan sold 37,787 shares of Coca-Cola stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $66.96, for a total value of $2,530,217.52. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,954,176.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 356,792 shares of company stock worth $24,728,364. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.8 %

Shares of KO opened at $70.44 on Friday. The Coca-Cola Company has a one year low of $53.86 and a one year high of $73.53. The company has a market cap of $303.45 billion, a P/E ratio of 28.18, a P/E/G ratio of 3.92 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The firm has a 50 day simple moving average of $70.70 and a two-hundred day simple moving average of $65.76.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. Research analysts forecast 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. Stockholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 2.75%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. TD Cowen boosted their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. BNP Paribas assumed coverage on Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Citigroup boosted their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley boosted their price objective on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

About Coca-Cola

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.