Captrust Financial Advisors Increases Stock Position in The Coca-Cola Company (NYSE:KO)

Captrust Financial Advisors boosted its stake in The Coca-Cola Company (NYSE:KO) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,300,401 shares of the company’s stock after acquiring an additional 28,664 shares during the period. Captrust Financial Advisors’ holdings in Coca-Cola were worth $165,307,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in KO. Cetera Advisors LLC raised its holdings in Coca-Cola by 39.9% in the first quarter. Cetera Advisors LLC now owns 366,670 shares of the company’s stock valued at $22,433,000 after acquiring an additional 104,506 shares in the last quarter. Cetera Advisor Networks LLC raised its holdings in Coca-Cola by 4.1% in the first quarter. Cetera Advisor Networks LLC now owns 509,277 shares of the company’s stock valued at $31,158,000 after acquiring an additional 19,985 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Coca-Cola by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 12,419 shares of the company’s stock valued at $767,000 after acquiring an additional 1,722 shares in the last quarter. OMC Financial Services LTD acquired a new stake in shares of Coca-Cola during the first quarter worth $699,000. Finally, American Trust raised its holdings in shares of Coca-Cola by 4.9% during the first quarter. American Trust now owns 13,683 shares of the company’s stock worth $837,000 after purchasing an additional 638 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were 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 approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

Shares of KO opened at $64.43 on Friday. The firm has a 50-day moving average price of $67.22 and a 200 day moving average price of $66.56. The firm has a market capitalization of $277.55 billion, a PE ratio of 26.62, a P/E/G ratio of 3.91 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 52-week low of $57.47 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) 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 analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 3.01%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Truist Financial increased their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley dropped their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company increased 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. Finally, Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $72.36.

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.