Independent Advisor Alliance Acquires 3,699 Shares of The Coca-Cola Company (NYSE:KO)

Independent Advisor Alliance grew its holdings in The Coca-Cola Company (NYSE:KO) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 534,625 shares of the company’s stock after purchasing an additional 3,699 shares during the period. Coca-Cola comprises about 1.4% of Independent Advisor Alliance’s investment portfolio, making the stock its 11th biggest holding. Independent Advisor Alliance’s holdings in Coca-Cola were worth $38,418,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Harvest Fund Management Co. Ltd lifted its position in Coca-Cola by 81.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 10,416 shares of the company’s stock valued at $748,000 after purchasing an additional 4,669 shares during the period. Davis R M Inc. raised its stake in Coca-Cola by 12.6% during the 3rd quarter. Davis R M Inc. now owns 17,575 shares of the company’s stock valued at $1,263,000 after buying an additional 1,965 shares during the last quarter. Prosperity Financial Group Inc. bought a new position in shares of Coca-Cola during the 3rd quarter valued at $209,000. Douglass Winthrop Advisors LLC boosted its stake in shares of Coca-Cola by 5.7% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 89,061 shares of the company’s stock worth $6,400,000 after buying an additional 4,821 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Coca-Cola by 39.7% in the third quarter. Fisher Asset Management LLC now owns 6,765,669 shares of the company’s stock worth $486,181,000 after acquiring an additional 1,921,241 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, EVP Nancy Quan sold 18,484 shares of the business’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 owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of a number of recent research reports. Barclays lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Truist Financial increased their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley cut their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company upped their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Trading Up 0.3 %

Coca-Cola stock opened at $63.92 on Monday. The stock has a market cap of $275.35 billion, a P/E ratio of 26.41, a PEG ratio of 3.88 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53. The firm’s 50 day moving average price is $67.79 and its 200-day moving average price is $66.57.

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

Coca-Cola Dividend Announcement

The business 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 dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

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.