RIA Advisory Group LLC Acquires New Holdings in The Coca-Cola Company (NYSE:KO)

RIA Advisory Group LLC purchased a new position in shares of The Coca-Cola Company (NYSE:KO) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 77,612 shares of the company’s stock, valued at approximately $5,577,000. Coca-Cola comprises about 2.0% of RIA Advisory Group LLC’s portfolio, making the stock its 9th biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Millennium Group LLC acquired a new stake in Coca-Cola in the second quarter valued at about $26,000. Quarry LP bought a new stake in Coca-Cola in the second quarter worth approximately $27,000. ESL Trust Services LLC acquired a new stake in Coca-Cola in the first quarter valued at approximately $28,000. Hara Capital LLC acquired a new stake in Coca-Cola in the third quarter valued at approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the third quarter valued at approximately $36,000. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Barclays lowered their target price 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. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Wells Fargo & Company increased their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada increased their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $72.36.

Coca-Cola Price Performance

Shares of KO stock traded down $0.81 during mid-day trading on Friday, hitting $61.74. The company had a trading volume of 26,284,331 shares, compared to its average volume of 13,364,542. The Coca-Cola Company has a 52-week low of $56.70 and a 52-week high of $73.53. The stock’s 50 day moving average price is $68.63 and its 200-day moving average price is $66.48. 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 company has a market capitalization of $265.96 billion, a P/E ratio of 25.51, a P/E/G ratio of 3.83 and a beta of 0.61.

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

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insider Activity

In other news, EVP Lisa Chang sold 40,334 shares of the 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 transaction, the executive vice president now owns 74,067 shares in the company, valued at $5,150,619.18. This trade represents a 35.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the firm’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 completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 303,748 shares of company stock valued at $20,677,431. 0.97% of the stock is currently owned by company insiders.

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.