12,278 Shares in The Coca-Cola Company (NYSE:KO) Acquired by OneAscent Financial Services LLC

OneAscent Financial Services LLC purchased a new position in shares of The Coca-Cola Company (NYSE:KO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,278 shares of the company’s stock, valued at approximately $888,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of KO. New Millennium Group LLC acquired a new stake in shares of Coca-Cola in the second quarter worth $26,000. Quarry LP acquired a new stake in shares of Coca-Cola in the second quarter worth $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola in the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola in the third quarter worth $36,000. Finally, Mount Lucas Management LP acquired a new stake in shares of Coca-Cola in the second quarter worth $38,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on KO. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. TD Cowen increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Barclays decreased their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Citigroup upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 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 company. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola Stock Performance

Shares of KO opened at $61.85 on Tuesday. The Coca-Cola Company has a one year low of $56.96 and a one year high of $73.53. The company has a 50-day moving average of $68.43 and a two-hundred day moving average of $66.54. The stock has a market cap of $266.44 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 3.75 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion during 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 firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. On average, equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 3.14%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is presently 80.17%.

Insider Activity at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 18.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 303,748 shares of company stock valued at $20,677,431. 0.97% of the stock is currently owned by corporate insiders.

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.