Aspen Wealth Strategies LLC Buys Shares of 3,005 The Coca-Cola Company (NYSE:KO)

Aspen Wealth Strategies LLC purchased a new stake in The Coca-Cola Company (NYSE:KO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,005 shares of the company’s stock, valued at approximately $216,000.

Several other large investors have also modified their holdings of KO. Price T Rowe Associates Inc. MD grew its holdings in Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after buying an additional 8,733,326 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Coca-Cola by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after acquiring an additional 2,964,850 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Coca-Cola during the second quarter valued at $188,448,000. M&G Plc purchased a new stake in Coca-Cola during the 1st quarter worth about $157,087,000. Finally, Pathway Financial Advisers LLC raised its stake in Coca-Cola by 7,006.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after purchasing an additional 2,443,612 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Morgan Stanley lowered their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Citigroup lifted their price target on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Five 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Coca-Cola Stock Performance

Shares of KO stock opened at $65.31 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a market cap of $281.34 billion, a PE ratio of 26.99, a P/E/G ratio of 4.00 and a beta of 0.60. The company’s fifty day simple moving average is $70.39 and its 200-day simple moving average is $66.21. The Coca-Cola Company has a 52 week low of $56.06 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the company posted $0.74 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current 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 $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.97%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Insider Activity

In related news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction 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 directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO James Quincey sold 102,533 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 261,870 shares of company stock worth $18,256,369 over the last 90 days. Company insiders own 0.97% of the company’s stock.

Coca-Cola Company 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.