HighTower Advisors LLC Purchases 33,175 Shares of The Coca-Cola Company (NYSE:KO)

HighTower Advisors LLC lifted its position in The Coca-Cola Company (NYSE:KO) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,331,880 shares of the company’s stock after acquiring an additional 33,175 shares during the quarter. HighTower Advisors LLC owned 0.05% of Coca-Cola worth $167,582,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Apella Capital LLC lifted its holdings in shares of Coca-Cola by 1.4% in the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after acquiring an additional 146 shares during the last quarter. Investment Advisory Group LLC lifted its holdings in Coca-Cola by 4.5% during the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after buying an additional 146 shares in the last quarter. Elwood & Goetz Wealth Advisory Group LLC lifted its holdings in Coca-Cola by 2.2% during the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after buying an additional 149 shares in the last quarter. CCG Wealth Management LLC lifted its holdings in Coca-Cola by 4.3% during the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after buying an additional 149 shares in the last quarter. Finally, Investment Partners Asset Management Inc. lifted its holdings in Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after buying an additional 150 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $63.67 on Tuesday. 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 Coca-Cola Company has a 12 month low of $57.47 and a 12 month high of $73.53. The company has a 50 day simple moving average of $67.07 and a two-hundred day simple moving average of $66.61. The stock has a market cap of $274.26 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 3.89 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the previous year, the business posted $0.74 EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. As a group, analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

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

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on KO shares. Truist Financial lifted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Wells Fargo & Company cut their target price on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, 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 report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.14.

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.