The Coca-Cola Company (NYSE:KO) Shares Bought by Providence Capital Advisors LLC

Providence Capital Advisors LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,169 shares of the company’s stock after purchasing an additional 362 shares during the quarter. Providence Capital Advisors LLC’s holdings in Coca-Cola were worth $3,174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New Millennium Group LLC acquired a new position in shares of Coca-Cola during the second quarter worth about $26,000. Quarry LP acquired a new position in shares of Coca-Cola during the second quarter worth about $27,000. Hara Capital LLC acquired a new position in shares of Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola during the third quarter worth about $36,000. Finally, Mount Lucas Management LP acquired a new position in shares of Coca-Cola during the second quarter worth about $38,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

KO has been the topic of several recent analyst reports. Barclays cut 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. Wells Fargo & Company boosted their price target on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Morgan Stanley cut their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Stock Down 0.2 %

NYSE:KO opened at $64.43 on Thursday. The firm has a market capitalization of $277.55 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 3.91 and a beta of 0.61. The stock has a 50 day moving average of $67.34 and a 200-day moving average of $66.57. The Coca-Cola Company has a 52 week low of $57.47 and a 52 week high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion during 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 was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 earnings per share. Analysts predict that The Coca-Cola Company will post 2.85 EPS for the current 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 issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

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.