The Coca-Cola Company (NYSE:KO) Shares Bought by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS raised its position in The Coca-Cola Company (NYSE:KO) by 14.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,627 shares of the company’s stock after acquiring an additional 1,227 shares during the period. Legacy Wealth Management LLC MS’s holdings in Coca-Cola were worth $692,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. 1ST Source Bank lifted its stake in shares of Coca-Cola by 2.7% in the 3rd quarter. 1ST Source Bank now owns 19,835 shares of the company’s stock worth $1,425,000 after acquiring an additional 524 shares during the period. DGS Capital Management LLC increased its holdings in shares of Coca-Cola by 13.1% in the 3rd quarter. DGS Capital Management LLC now owns 4,856 shares of the company’s stock valued at $349,000 after purchasing an additional 561 shares in the last quarter. Copley Financial Group Inc. purchased a new position in shares of Coca-Cola in the 3rd quarter valued at about $669,000. Beaird Harris Wealth Management LLC increased its holdings in shares of Coca-Cola by 57.6% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,409 shares of the company’s stock valued at $173,000 after purchasing an additional 880 shares in the last quarter. Finally, American Trust increased its holdings in shares of Coca-Cola by 11.2% in the 3rd quarter. American Trust now owns 17,573 shares of the company’s stock valued at $1,263,000 after purchasing an additional 1,771 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KO. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $70.00 in a report on Thursday. Morgan Stanley cut their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Truist Financial increased their price target 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. Finally, Wells Fargo & Company dropped their target price on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, December 2nd. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.50.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction 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 approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 0.1 %

Shares of KO traded down $0.08 during mid-day trading on Friday, hitting $63.76. The company had a trading volume of 3,609,187 shares, compared to its average volume of 13,805,354. The business’s 50-day simple moving average is $65.55 and its 200-day simple moving average is $66.57. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 1-year low of $57.47 and a 1-year high of $73.53. The stock has a market cap of $274.67 billion, a PE ratio of 26.25, a P/E/G ratio of 3.81 and a beta of 0.61.

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 analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion for 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%. Coca-Cola’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 earnings per share. Sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.04%. Coca-Cola’s dividend payout ratio is currently 80.17%.

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.