First Commonwealth Financial Corp PA Invests $206,000 in The Coca-Cola Company (NYSE:KO)

First Commonwealth Financial Corp PA bought a new stake in shares of The Coca-Cola Company (NYSE:KO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,864 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also recently modified their holdings of KO. Cynosure Group LLC raised its position in Coca-Cola by 46.4% during the third quarter. Cynosure Group LLC now owns 5,057 shares of the company’s stock worth $363,000 after acquiring an additional 1,602 shares during the period. Townsquare Capital LLC raised its position in shares of Coca-Cola by 5.2% during the 3rd quarter. Townsquare Capital LLC now owns 325,878 shares of the company’s stock worth $23,418,000 after purchasing an additional 16,198 shares during the last quarter. NCP Inc. lifted its stake in Coca-Cola by 9.2% in the 3rd quarter. NCP Inc. now owns 3,571 shares of the company’s stock valued at $257,000 after buying an additional 300 shares in the last quarter. Cadence Bank boosted its holdings in Coca-Cola by 1.0% in the 3rd quarter. Cadence Bank now owns 70,972 shares of the company’s stock worth $5,100,000 after buying an additional 668 shares during the last quarter. Finally, Avestar Capital LLC increased its stake in Coca-Cola by 3.5% during the 3rd quarter. Avestar Capital LLC now owns 29,536 shares of the company’s stock worth $2,122,000 after buying an additional 1,006 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on KO shares. Morgan Stanley decreased their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock 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. Barclays dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, Truist Financial upped their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The stock was 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 owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Trading Down 0.2 %

Shares of Coca-Cola stock opened at $64.43 on Thursday. The Coca-Cola Company has a fifty-two week low of $57.47 and a fifty-two week high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The firm has a market capitalization of $277.55 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 3.91 and a beta of 0.61. The stock has a 50 day moving average of $67.34 and a 200 day moving average of $66.57.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (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 firm 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 company earned $0.74 EPS. The company’s quarterly revenue was down .8% on a year-over-year basis. As a group, research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.01%. Coca-Cola’s dividend payout ratio is currently 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.