Pure Portfolios Holdings LLC Acquires New Shares in The Coca-Cola Company (NYSE:KO)

Pure Portfolios Holdings LLC bought a new position in The Coca-Cola Company (NYSE:KO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 11,061 shares of the company’s stock, valued at approximately $795,000.

A number of other hedge funds have also added to or reduced their stakes in KO. Northwest Investment Counselors LLC purchased a new position in Coca-Cola during the first quarter worth about $162,000. CHICAGO TRUST Co NA boosted its position in shares of Coca-Cola by 21.2% during the 1st quarter. CHICAGO TRUST Co NA now owns 31,289 shares of the company’s stock valued at $1,914,000 after acquiring an additional 5,463 shares during the last quarter. Global Trust Asset Management LLC grew its holdings in shares of Coca-Cola by 3.3% during the first quarter. Global Trust Asset Management LLC now owns 6,208 shares of the company’s stock worth $380,000 after purchasing an additional 200 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of Coca-Cola in the first quarter worth approximately $18,476,000. Finally, Financial Synergies Wealth Advisors Inc. raised its stake in Coca-Cola by 60.3% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 1,385 shares of the company’s stock valued at $85,000 after purchasing an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 356,792 shares of company stock valued at $24,728,364. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on KO. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Royal Bank of Canada increased their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. BNP Paribas began coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Citigroup raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Five equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $70.44 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The company has a market cap of $303.45 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 12 month low of $53.86 and a 12 month high of $73.53. The company has a 50-day moving average price of $70.70 and a 200-day moving average price of $65.76.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter last year, the business posted $0.78 EPS. The business’s revenue was up 3.3% on a year-over-year basis. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued 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 2.75%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Coca-Cola 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.