Nicolet Advisory Services LLC Grows Position in The Coca-Cola Company (NYSE:KO)

Nicolet Advisory Services LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,759 shares of the company’s stock after purchasing an additional 1,624 shares during the period. Nicolet Advisory Services LLC’s holdings in Coca-Cola were worth $6,189,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in KO. New Millennium Group LLC purchased a new stake in shares of Coca-Cola during the 2nd quarter worth about $26,000. Quarry LP acquired a new position in Coca-Cola during the second quarter valued at approximately $27,000. Hara Capital LLC purchased a new stake in Coca-Cola during the third quarter worth approximately $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 purchased a new position in shares of Coca-Cola in the 2nd quarter valued at $38,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of KO stock opened at $63.92 on Friday. The firm has a fifty day moving average of $67.79 and a two-hundred day moving average of $66.51. The firm has a market cap of $275.33 billion, a P/E ratio of 26.41, a P/E/G ratio of 3.87 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $57.47 and a 1-year high of $73.53. 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 analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period last year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared 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 dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

Analysts Set New Price Targets

KO has been the subject of a number of research reports. Wells Fargo & Company upped their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley decreased their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Truist Financial upped their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Barclays dropped 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. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $72.36.

Insider Buying and Selling

In related news, CEO James Quincey sold 42,397 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The trade was a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 160,881 shares of company stock worth $10,693,244 over the last ninety days. 0.97% of the stock is owned by 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.