Patrick M Sweeney & Associates Inc. Purchases 717 Shares of The Coca-Cola Company (NYSE:KO)

Patrick M Sweeney & Associates Inc. lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 8.7% during the third quarter, Holdings Channel.com reports. The firm owned 8,979 shares of the company’s stock after purchasing an additional 717 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Coca-Cola were worth $645,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of KO. Brookstone Capital Management lifted its holdings in shares of Coca-Cola by 67.4% in the first quarter. Brookstone Capital Management now owns 78,799 shares of the company’s stock valued at $4,821,000 after purchasing an additional 31,740 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Coca-Cola during the 1st quarter valued at $126,000. Key Client Fiduciary Advisors LLC lifted its stake in Coca-Cola by 59.8% during the 1st quarter. Key Client Fiduciary Advisors LLC now owns 6,862 shares of the company’s stock valued at $420,000 after acquiring an additional 2,567 shares in the last quarter. Aspiriant LLC boosted its holdings in Coca-Cola by 1.7% during the 1st quarter. Aspiriant LLC now owns 14,659 shares of the company’s stock worth $897,000 after acquiring an additional 249 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its stake in shares of Coca-Cola by 14.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 38,634 shares of the company’s stock worth $2,364,000 after acquiring an additional 4,754 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nancy Quan sold 37,787 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was 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 owns 223,330 shares in the company, valued at approximately $14,954,176.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 356,792 shares of company stock valued at $24,728,364. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Bank of America boosted their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Barclays increased their price target on Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Truist Financial lifted their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. 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, the company presently has an average rating of “Moderate Buy” and an average price target of $72.00.

Coca-Cola Stock Down 2.1 %

KO opened at $68.02 on Thursday. The Coca-Cola Company has a 12 month low of $55.10 and a 12 month high of $73.53. The company has a market cap of $293.03 billion, a PE ratio of 27.21, a price-to-earnings-growth 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 company has a 50 day moving average of $70.74 and a 200 day moving average of $65.96.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same period in the previous year, the company posted $0.78 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.85%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Coca-Cola Company 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.