Opal Wealth Advisors LLC Grows Stake in The Coca-Cola Company (NYSE:KO)

Opal Wealth Advisors LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 6.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,405 shares of the company’s stock after purchasing an additional 970 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Coca-Cola were worth $1,107,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB acquired a new stake in Coca-Cola during the 1st quarter worth $102,604,000. BDF Gestion acquired a new stake in shares of Coca-Cola during the second quarter worth $7,421,000. Duality Advisers LP boosted its holdings in shares of Coca-Cola by 191.1% in the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock valued at $6,843,000 after acquiring an additional 73,434 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Coca-Cola by 0.7% during the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock worth $179,578,000 after acquiring an additional 20,048 shares during the period. Finally, New Mexico Educational Retirement Board raised its holdings in Coca-Cola by 11.6% during the first quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock worth $14,013,000 after purchasing an additional 23,500 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

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

Wall Street Analyst Weigh In

KO has been the subject of several research analyst reports. BNP Paribas began coverage on Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. Bank of America upped their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price objective on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Morgan Stanley raised their price target on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Finally, Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $71.33.

Coca-Cola Price Performance

Shares of NYSE KO opened at $70.36 on Wednesday. The business has a 50-day moving average of $70.60 and a 200-day 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 debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The company has a market capitalization of $303.11 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter last year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts anticipate 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 was paid on Tuesday, October 1st. Stockholders 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 was Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

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.