The Coca-Cola Company (NYSE:KO) Shares Purchased by Providence Capital Advisors LLC

Providence Capital Advisors LLC boosted its position in The Coca-Cola Company (NYSE:KO) by 0.8% in the third quarter, HoldingsChannel.com reports. The firm owned 44,169 shares of the company’s stock after purchasing an additional 362 shares during the quarter. Providence Capital Advisors LLC’s holdings in Coca-Cola were worth $3,174,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KO. FMR LLC lifted its position in Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Coca-Cola during the 3rd quarter valued at $269,382,000. Manning & Napier Advisors LLC acquired a new stake in shares of Coca-Cola during the 2nd quarter valued at $188,448,000. Pathway Financial Advisers LLC lifted its position in shares of Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after acquiring an additional 2,443,612 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Coca-Cola by 39.7% during the 3rd quarter. Fisher Asset Management LLC now owns 6,765,669 shares of the company’s stock valued at $486,181,000 after acquiring an additional 1,921,241 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Trading Down 0.2 %

NYSE KO opened at $64.43 on Thursday. The Coca-Cola Company has a 1-year low of $57.47 and a 1-year high of $73.53. 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 market capitalization of $277.55 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 3.91 and a beta of 0.61. The firm’s fifty day simple moving average is $67.34 and its 200-day simple moving average is $66.57.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the business posted $0.74 earnings per share. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm 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. This represents a $1.94 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Wells Fargo & Company increased their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley reduced their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Four investment 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.36.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.97% of the company’s stock.

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.