Ashton Thomas Private Wealth LLC Sells 1,671 Shares of The Coca-Cola Company (NYSE:KO)

Ashton Thomas Private Wealth LLC lessened its stake in The Coca-Cola Company (NYSE:KO) by 2.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,720 shares of the company’s stock after selling 1,671 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Coca-Cola were worth $5,369,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. William Blair Investment Management LLC raised its stake in Coca-Cola by 17.8% during the 1st quarter. William Blair Investment Management LLC now owns 207,956 shares of the company’s stock worth $12,723,000 after buying an additional 31,397 shares during the period. Koshinski Asset Management Inc. increased its holdings in shares of Coca-Cola by 4.6% in the first quarter. Koshinski Asset Management Inc. now owns 27,953 shares of the company’s stock worth $1,710,000 after acquiring an additional 1,242 shares in the last quarter. TD Asset Management Inc raised its position in shares of Coca-Cola by 0.7% during the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock worth $179,578,000 after purchasing an additional 20,048 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Coca-Cola by 3.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 4,343,558 shares of the company’s stock valued at $269,431,000 after purchasing an additional 138,392 shares in the last quarter. Finally, Angeles Wealth Management LLC grew its position in shares of Coca-Cola by 2.4% in the 1st quarter. Angeles Wealth Management LLC now owns 11,149 shares of the company’s stock valued at $682,000 after purchasing an additional 265 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 203,748 shares of company stock worth $14,274,431 over the last three months. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.4 %

Shares of NYSE:KO opened at $63.60 on Tuesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a 52-week low of $56.60 and a 52-week high of $73.53. The company has a market capitalization of $273.98 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 3.88 and a beta of 0.61. The company has a fifty day moving average of $69.37 and a 200-day moving average of $66.52.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. On average, equities analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed 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 of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.05%. Coca-Cola’s dividend payout ratio is 80.17%.

Wall Street Analyst Weigh In

KO has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Wells Fargo & Company lifted their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Royal Bank of Canada raised their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Barclays dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

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.