Advisor Resource Council Makes New Investment in The Coca-Cola Company (NYSE:KO)

Advisor Resource Council acquired a new stake in shares of The Coca-Cola Company (NYSE:KO) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 10,697 shares of the company’s stock, valued at approximately $769,000.

Other hedge funds also recently made changes to their positions in the company. New Millennium Group LLC acquired a new position in shares of Coca-Cola in the 2nd quarter valued at $26,000. Quarry LP acquired a new position in Coca-Cola during the second quarter valued at $27,000. ESL Trust Services LLC purchased a new position in Coca-Cola during the 1st quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola during the third quarter worth approximately $36,000. Finally, Mount Lucas Management LP acquired a new stake in shares of Coca-Cola during the 2nd quarter valued at $38,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Bank of America increased their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Finally, Morgan Stanley cut their target price 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. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $71.80.

Insider Activity

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated 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 completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 203,748 shares of company stock valued at $14,274,431. 0.97% of the stock is owned by insiders.

Coca-Cola Price Performance

Shares of NYSE KO opened at $63.68 on Thursday. The Coca-Cola Company has a fifty-two week low of $56.06 and a fifty-two week high of $73.53. The stock has a market capitalization of $274.30 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 3.96 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 business has a 50-day moving average of $69.90 and a 200-day moving average of $66.43.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period in the prior year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio 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.