Adero Partners LLC Buys 464 Shares of The Coca-Cola Company (NYSE:KO)

Adero Partners LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 6.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,468 shares of the company’s stock after purchasing an additional 464 shares during the quarter. Adero Partners LLC’s holdings in Coca-Cola were worth $537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in KO. New Millennium Group LLC bought a new stake in Coca-Cola during the second quarter valued at about $26,000. Quarry LP purchased a new stake in Coca-Cola in the second quarter valued at about $27,000. Hara Capital LLC purchased a new stake in Coca-Cola in the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola in the third quarter valued at about $36,000. Finally, Mount Lucas Management LP purchased a new stake in Coca-Cola in the second quarter valued at about $38,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 1.3 %

Shares of KO stock opened at $61.74 on Friday. The stock has a 50 day moving average of $68.63 and a 200 day moving average of $66.51. 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 stock has a market cap of $265.96 billion, a P/E ratio of 25.51, a P/E/G ratio of 3.75 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $56.70 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $0.74 earnings per share. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

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 issued a $0.485 dividend. 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 currently 80.17%.

Analysts Set New Price Targets

A number of equities research analysts have commented on KO shares. Morgan Stanley decreased their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Barclays decreased their price target on 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, TD Cowen raised their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, twelve have assigned 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 an average target price of $72.36.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 303,748 shares of company stock valued at $20,677,431. Company insiders own 0.97% of the company’s stock.

About Coca-Cola

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.