Worth Asset Management LLC Makes New Investment in The Coca-Cola Company (NYSE:KO)

Worth Asset Management LLC bought a new stake in The Coca-Cola Company (NYSE:KO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,852 shares of the company’s stock, valued at approximately $205,000.

A number of other large investors also recently made changes to their positions in the company. Watts Gwilliam & Co. LLC purchased a new stake in Coca-Cola in the 3rd quarter valued at about $683,000. Tobam grew its holdings in shares of Coca-Cola by 4.8% in the third quarter. Tobam now owns 11,760 shares of the company’s stock valued at $845,000 after acquiring an additional 541 shares in the last quarter. Steigerwald Gordon & Koch Inc. increased its position in shares of Coca-Cola by 2.2% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 221,101 shares of the company’s stock valued at $15,888,000 after purchasing an additional 4,787 shares during the last quarter. Cadinha & Co. LLC increased its holdings in Coca-Cola by 92.1% during the third quarter. Cadinha & Co. LLC now owns 13,447 shares of the company’s stock worth $966,000 after buying an additional 6,448 shares during the last quarter. Finally, Cypress Wealth Services LLC raised its position in Coca-Cola by 2.0% in the third quarter. Cypress Wealth Services LLC now owns 8,924 shares of the company’s stock worth $641,000 after acquiring an additional 179 shares during the period. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

KO has been the subject of several research analyst reports. Morgan Stanley raised their price target on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. TD Cowen upped their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Citigroup upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Truist Financial lifted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $71.07.

Insider Activity at Coca-Cola

In other news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,507,516.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,507,516.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 376,096 shares of company stock worth $25,982,352 in the last ninety days. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Up 0.1 %

Shares of NYSE:KO opened at $69.30 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The firm has a fifty day moving average of $70.51 and a 200 day moving average of $65.33. The Coca-Cola Company has a 52-week low of $52.43 and a 52-week high of $73.53. The firm has a market capitalization of $298.67 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60.

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

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 78.54%.

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.