Keybank National Association OH raised its holdings in Coca-Cola Company (The) (NYSE:KO – Free Report) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,096,439 shares of the company’s stock after purchasing an additional 7,312 shares during the quarter. Keybank National Association OH’s holdings in Coca-Cola were worth $94,381,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Garrett Wealth Advisory Group LLC grew its holdings in shares of Coca-Cola by 1.7% during the third quarter. Garrett Wealth Advisory Group LLC now owns 6,274 shares of the company’s stock worth $540,000 after buying an additional 107 shares during the last quarter. Certified Advisory Corp increased its position in Coca-Cola by 0.3% in the 3rd quarter. Certified Advisory Corp now owns 33,711 shares of the company’s stock valued at $2,902,000 after acquiring an additional 108 shares during the period. Lantern Wealth Advisors LLC raised its stake in Coca-Cola by 3.6% during the 2nd quarter. Lantern Wealth Advisors LLC now owns 3,316 shares of the company’s stock valued at $270,000 after acquiring an additional 115 shares during the last quarter. New Wave Wealth Advisors LLC raised its stake in Coca-Cola by 4.4% during the 3rd quarter. New Wave Wealth Advisors LLC now owns 2,747 shares of the company’s stock valued at $248,000 after acquiring an additional 116 shares during the last quarter. Finally, Gill Capital Partners LLC raised its stake in Coca-Cola by 4.1% during the 2nd quarter. Gill Capital Partners LLC now owns 2,992 shares of the company’s stock valued at $243,000 after acquiring an additional 117 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.
Key Stories Impacting Coca-Cola
Here are the key news stories impacting Coca-Cola this week:
- Positive Sentiment: Coca-Cola’s push into functional beverages is gaining traction, with fairlife, Powerade and smartwater growth, alongside innovation and capacity expansion, offering potential avenues for growth. Can Coca-Cola Benefit From Rising Demand for Functional Drinks?
- Positive Sentiment: Several articles emphasize KO’s durable brands and its 64-year record of dividend increases, reinforcing its appeal to long-term income investors. One report also notes Berkshire Hathaway receives about $848 million annually in dividends from its Coca-Cola investment. Coca-Cola’s Dividend Has Grown 64 Years in a Row Warren Buffett’s Coca-Cola Investment
- Neutral Sentiment: Coca-Cola India is advancing draft papers for an IPO. The report does not specify how the offering could affect KO financially. Coca-Cola India IPO moves forward with draft papers
- Neutral Sentiment: EVP Nancy Quan sold shares to cover tax withholding on vested equity awards and retained a substantial stake, making the transaction less informative as a signal about her outlook. Coca-Cola EVP Nancy Quan Sells Shares
- Negative Sentiment: Some commentary cautions that KO’s share-price gains have outpaced revisions to its earnings outlook, raising valuation concerns. Higher real Treasury yields and competing bond yields could also make dividend stocks less attractive to some investors. Coca-Cola Stock Keeps Setting Records Treasuries Now Offer 2.66% Above Inflation
Analyst Ratings Changes
A number of research firms have weighed in on KO. Citigroup increased their price objective on Coca-Cola from $102.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. BNP Paribas Exane boosted their target price on Coca-Cola from $90.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. CICC Research boosted their target price on Coca-Cola from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft upped their price target on Coca-Cola from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company increased their price target on Coca-Cola from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $97.26.
Read Our Latest Research Report on KO
Coca-Cola Stock Up 0.9%
Shares of NYSE:KO opened at $96.94 on Wednesday. The company has a market cap of $417.01 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 3.75 and a beta of 0.28. The firm’s 50-day simple moving average is $90.25 and its 200-day simple moving average is $82.93. The company has a quick ratio of 1.19, a current ratio of 1.38 and a debt-to-equity ratio of 0.93. Coca-Cola Company has a fifty-two week low of $67.27 and a fifty-two week high of $97.39.
Coca-Cola (NYSE:KO – Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $13.35 billion for the quarter, compared to analyst estimates of $12.92 billion. Coca-Cola had a net margin of 28.65% and a return on equity of 38.79%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.82 earnings per share. As a group, equities research analysts predict that Coca-Cola Company will post 3.34 earnings per share for the current year.
Coca-Cola Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Coca-Cola’s payout ratio is currently 62.35%.
Insider Buying and Selling at Coca-Cola
In other Coca-Cola news, EVP Nancy Quan sold 20,585 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $95.62, for a total transaction of $1,968,337.70. Following the transaction, the executive vice president owned 223,330 shares in the company, valued at approximately $21,354,814.60. The trade was a 8.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Bruno Pietracci sold 111,365 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $90.93, for a total value of $10,126,419.45. Following the transaction, the insider directly owned 41,365 shares of the company’s stock, valued at approximately $3,761,319.45. This trade represents a 72.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 249,498 shares of company stock valued at $23,025,238. 0.90% of the stock is owned by corporate insiders.
Coca-Cola Company Profile
The Coca-Cola Company (NYSE: KO) is a global beverage company headquartered in Atlanta, Georgia. Founded in 1886, it is best known for Coca-Cola, one of the world’s most recognized soft drink brands. The company owns, licenses, and markets a broad portfolio of beverages, including sparkling soft drinks, water, sports drinks, coffee, tea, juice, dairy and plant-based beverages, and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, Dasani, smartwater, Powerade, Minute Maid, Simply, fairlife, and Costa Coffee, among others.
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