CCG Wealth Management LLC Has $260,000 Position in The Coca-Cola Company (NYSE:KO)

CCG Wealth Management LLC boosted its holdings in The Coca-Cola Company (NYSE:KO) by 4.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,614 shares of the company’s stock after acquiring an additional 149 shares during the quarter. CCG Wealth Management LLC’s holdings in Coca-Cola were worth $260,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Acorn Creek Capital LLC acquired a new stake in Coca-Cola in the third quarter worth $207,000. Hutchens & Kramer Investment Management Group LLC acquired a new stake in Coca-Cola in the third quarter worth $307,000. Investment Advisory Group LLC raised its holdings in Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after purchasing an additional 146 shares during the period. Ullmann Wealth Partners Group LLC raised its holdings in Coca-Cola by 74.8% in the third quarter. Ullmann Wealth Partners Group LLC now owns 13,809 shares of the company’s stock worth $992,000 after purchasing an additional 5,908 shares during the period. Finally, Swedbank AB raised its holdings in Coca-Cola by 16.8% in the third quarter. Swedbank AB now owns 1,963,008 shares of the company’s stock worth $141,062,000 after purchasing an additional 282,579 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. BNP Paribas assumed coverage on shares of Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price on the stock. Bank of America raised their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. JPMorgan Chase & Co. raised their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Barclays raised their price objective on shares of Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Five 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.33.

Coca-Cola Stock Up 0.0 %

Coca-Cola stock opened at $70.36 on Wednesday. The company has a fifty day simple moving average of $70.60 and a 200 day simple moving average of $65.59. The Coca-Cola Company has a 1-year low of $52.84 and a 1-year high of $73.53. The company has a market cap of $303.11 billion, a P/E ratio of 28.14, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter last year, the firm posted $0.78 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling

In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of Coca-Cola stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $66.96, for a total value of $2,530,217.52. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $14,954,176.80. 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 37,787 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $66.96, for a total value of $2,530,217.52. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,954,176.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. In the last 90 days, insiders sold 356,792 shares of company stock valued at $24,728,364. Company insiders own 0.97% of the company’s stock.

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.