Oak Harbor Wealth Partners LLC Has $3.70 Million Position in The Coca-Cola Company (NYSE:KO)

Oak Harbor Wealth Partners LLC raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,521 shares of the company’s stock after purchasing an additional 652 shares during the quarter. Coca-Cola makes up 1.1% of Oak Harbor Wealth Partners LLC’s holdings, making the stock its 24th biggest position. Oak Harbor Wealth Partners LLC’s holdings in Coca-Cola were worth $3,702,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Omnia Family Wealth LLC bought a new stake in shares of Coca-Cola during the third quarter worth approximately $223,000. Lifeworks Advisors LLC boosted its stake in Coca-Cola by 4.6% in the 3rd quarter. Lifeworks Advisors LLC now owns 13,629 shares of the company’s stock valued at $979,000 after purchasing an additional 596 shares during the period. Intelligence Driven Advisers LLC increased its position in Coca-Cola by 26.1% during the 3rd quarter. Intelligence Driven Advisers LLC now owns 4,755 shares of the company’s stock worth $342,000 after buying an additional 983 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Coca-Cola by 3.1% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 111,379 shares of the company’s stock valued at $8,004,000 after acquiring an additional 3,392 shares during the period. Finally, Metis Global Partners LLC boosted its position in shares of Coca-Cola by 0.9% in the third quarter. Metis Global Partners LLC now owns 212,417 shares of the company’s stock valued at $15,264,000 after acquiring an additional 1,813 shares during the period. 70.26% of the stock is owned by institutional investors.

Coca-Cola Trading Down 0.7 %

KO opened at $62.55 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 fifty day moving average price of $68.99 and a two-hundred day moving average price of $66.51. The company has a market cap of $269.43 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $56.70 and a 1-year high of $73.53.

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, beating 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 business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the firm posted $0.74 EPS. Coca-Cola’s revenue was down .8% compared to the same quarter last year. Analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the business’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 owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 303,748 shares of company stock valued at $20,677,431. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Citigroup boosted 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. Barclays dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Morgan Stanley decreased their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company raised their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Four equities 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.36.

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.