TSA Wealth Managment LLC Acquires 300 Shares of The Coca-Cola Company (NYSE:KO)

TSA Wealth Managment LLC boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.4% during the third quarter, HoldingsChannel reports. The fund owned 69,068 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Coca-Cola comprises 2.0% of TSA Wealth Managment LLC’s holdings, making the stock its 16th largest position. TSA Wealth Managment LLC’s holdings in Coca-Cola were worth $4,963,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. acquired a new stake in Coca-Cola during the 3rd quarter valued at approximately $18,383,000. Balentine LLC increased its position in shares of Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after buying an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC increased its position in shares of Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after buying an additional 59,503 shares during the period. CIBC Asset Management Inc lifted its holdings in Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock valued at $61,122,000 after buying an additional 46,541 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Coca-Cola by 4.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after acquiring an additional 21,005 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Down 1.3 %

KO stock opened at $61.73 on Friday. The firm has a market capitalization of $265.92 billion, a PE ratio of 25.51, a P/E/G ratio of 3.83 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a twelve month low of $56.70 and a twelve month high of $73.53. The stock’s 50 day moving average is $68.63 and its 200-day moving average is $66.48.

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

Coca-Cola Dividend Announcement

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

Insider Transactions at Coca-Cola

In other news, EVP Lisa Chang sold 40,334 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,150,619.18. This represents a 35.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 303,748 shares of company stock worth $20,677,431 in the last 90 days. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. TD Cowen raised their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Truist Financial raised their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley dropped their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Barclays cut their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Four 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 company. According to MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola Company 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.