Traphagen Investment Advisors LLC Reduces Position in The Coca-Cola Company (NYSE:KO)

Traphagen Investment Advisors LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,553 shares of the company’s stock after selling 452 shares during the period. Traphagen Investment Advisors LLC’s holdings in Coca-Cola were worth $974,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Austin Private Wealth LLC increased its stake in shares of Coca-Cola by 12.0% in the 1st quarter. Austin Private Wealth LLC now owns 4,716 shares of the company’s stock worth $282,000 after acquiring an additional 505 shares during the last quarter. Annex Advisory Services LLC increased its position in Coca-Cola by 3.6% during the first quarter. Annex Advisory Services LLC now owns 6,322 shares of the company’s stock worth $387,000 after purchasing an additional 222 shares during the last quarter. Riverview Trust Co purchased a new position in Coca-Cola during the first quarter worth about $102,000. Gilman Hill Asset Management LLC boosted its holdings in Coca-Cola by 15.6% in the 1st quarter. Gilman Hill Asset Management LLC now owns 10,504 shares of the company’s stock valued at $643,000 after purchasing an additional 1,415 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC grew its stake in shares of Coca-Cola by 9.1% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 82,323 shares of the company’s stock valued at $5,036,000 after buying an additional 6,880 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction 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 in the company, valued at $15,968,095. This trade 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 hyperlink. Also, EVP Lisa Chang sold 58,122 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,074,330.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 356,792 shares of company stock worth $24,728,364 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 0.2 %

NYSE:KO traded down $0.13 during midday trading on Tuesday, reaching $69.32. The company had a trading volume of 3,626,865 shares, compared to its average volume of 13,113,007. The Coca-Cola Company has a 12-month low of $54.04 and a 12-month high of $73.53. The firm has a market capitalization of $298.63 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 3.92 and a beta of 0.60. 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 stock’s fifty day simple moving average is $70.73 and its 200-day simple moving average is $65.87.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating 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 quarterly revenue was up 3.3% compared to the same quarter last year. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 2.80%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KO. TD Cowen lifted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. upped their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. 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 research note on Monday, September 16th. Finally, Barclays boosted their price target on shares of Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.