TSA Wealth Managment LLC Acquires 300 Shares of The Coca-Cola Company (NYSE:KO)

TSA Wealth Managment LLC boosted its holdings in The Coca-Cola Company (NYSE:KO) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,068 shares of the company’s stock after purchasing an additional 300 shares during the period. Coca-Cola comprises about 2.0% of TSA Wealth Managment LLC’s portfolio, making the stock its 16th largest holding. TSA Wealth Managment LLC’s holdings in Coca-Cola were worth $4,963,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Westfield Capital Management Co. LP raised its position in Coca-Cola by 7.0% during the first quarter. Westfield Capital Management Co. LP now owns 179,354 shares of the company’s stock worth $10,973,000 after acquiring an additional 11,716 shares in the last quarter. Spirepoint Private Client LLC bought a new stake in shares of Coca-Cola in the 1st quarter valued at about $441,000. TIAA Trust National Association lifted its stake in Coca-Cola by 1.5% in the 1st quarter. TIAA Trust National Association now owns 354,084 shares of the company’s stock valued at $21,663,000 after purchasing an additional 5,340 shares during the last quarter. Connors Investor Services Inc. grew its holdings in Coca-Cola by 2.6% during the first quarter. Connors Investor Services Inc. now owns 185,387 shares of the company’s stock worth $11,342,000 after purchasing an additional 4,694 shares during the period. Finally, Patten & Patten Inc. TN increased its position in Coca-Cola by 30.0% during the first quarter. Patten & Patten Inc. TN now owns 225,500 shares of the company’s stock worth $13,796,000 after buying an additional 52,038 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on KO shares. Morgan Stanley reduced their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Citigroup upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Truist Financial raised their target price 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. Barclays decreased their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Wells Fargo & Company raised their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Four investment 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.36.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 303,748 shares of company stock worth $20,677,431 over the last three months. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

KO opened at $61.73 on Friday. 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 $56.70 and a 52-week high of $73.53. The firm has a market cap of $265.92 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The business’s fifty day moving average is $68.63 and its 200-day moving average is $66.48.

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

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.14%. Coca-Cola’s dividend 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.