GM Advisory Group LLC Buys 903 Shares of The Coca-Cola Company (NYSE:KO)

GM Advisory Group LLC boosted its stake in The Coca-Cola Company (NYSE:KO) by 5.7% in the third quarter, HoldingsChannel reports. The firm owned 16,729 shares of the company’s stock after acquiring an additional 903 shares during the period. GM Advisory Group LLC’s holdings in Coca-Cola were worth $1,202,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Steel Grove Capital Advisors LLC raised its position in Coca-Cola by 0.3% in the first quarter. Steel Grove Capital Advisors LLC now owns 90,988 shares of the company’s stock worth $5,567,000 after acquiring an additional 263 shares during the period. Kestra Advisory Services LLC raised its holdings in Coca-Cola by 12.1% in the 1st quarter. Kestra Advisory Services LLC now owns 506,387 shares of the company’s stock worth $30,997,000 after purchasing an additional 54,507 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares in the last quarter. Beaird Harris Wealth Management LLC grew its holdings in Coca-Cola by 112.3% during the first quarter. Beaird Harris Wealth Management LLC now owns 1,399 shares of the company’s stock valued at $86,000 after purchasing an additional 740 shares during the period. Finally, Mount Yale Investment Advisors LLC increased its position in Coca-Cola by 33.0% in the first quarter. Mount Yale Investment Advisors LLC now owns 12,534 shares of the company’s stock worth $767,000 after buying an additional 3,111 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Barclays lowered 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. Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 100,000 shares of the company’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 transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 160,881 shares of company stock worth $10,693,244. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 1.2 %

Shares of KO opened at $63.76 on Friday. The Coca-Cola Company has a fifty-two week low of $57.47 and a fifty-two week high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company’s fifty day moving average is $67.94 and its 200 day moving average is $66.50. The stock has a market capitalization of $274.67 billion, a PE ratio of 26.35, a P/E/G ratio of 3.80 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its 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. The firm had revenue of $11.85 billion for the quarter, compared to analysts’ expectations 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 was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. Sell-side analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

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 issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

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.