Beacon Investment Advisory Services Inc. Buys 522 Shares of The Coca-Cola Company (NYSE:KO)

Beacon Investment Advisory Services Inc. grew its stake in The Coca-Cola Company (NYSE:KO) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,939 shares of the company’s stock after purchasing an additional 522 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Coca-Cola were worth $499,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of KO. Benjamin Edwards Inc. grew its stake in shares of Coca-Cola by 485.4% in the third quarter. Benjamin Edwards Inc. now owns 93,563 shares of the company’s stock valued at $6,724,000 after acquiring an additional 77,580 shares in the last quarter. Biglari Sardar grew its stake in shares of Coca-Cola by 3.8% in the third quarter. Biglari Sardar now owns 106,634 shares of the company’s stock valued at $7,663,000 after acquiring an additional 3,931 shares in the last quarter. Atom Investors LP acquired a new position in shares of Coca-Cola in the third quarter valued at about $395,000. Kestra Investment Management LLC acquired a new stake in Coca-Cola during the third quarter worth about $1,085,000. Finally, Point72 Hong Kong Ltd grew its stake in Coca-Cola by 151.3% during the third quarter. Point72 Hong Kong Ltd now owns 204,773 shares of the company’s stock worth $14,715,000 after buying an additional 123,278 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KO. Barclays reduced their price objective 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 objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Wells Fargo & Company reduced their price objective on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Morgan Stanley reduced their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Four research 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.14.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola 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. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

NYSE KO opened at $63.67 on Tuesday. The company has a fifty day simple moving average of $67.07 and a 200 day simple moving average of $66.61. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month 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 cap of $274.26 billion, a P/E ratio of 26.31, a PEG ratio of 3.89 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly 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 business had revenue of $11.85 billion during 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%. Coca-Cola’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 EPS. Sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is 80.17%.

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.