Bristlecone Advisors LLC Invests $224,000 in The Coca-Cola Company (NYSE:KO)

Bristlecone Advisors LLC purchased a new position in shares of The Coca-Cola Company (NYSE:KO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,111 shares of the company’s stock, valued at approximately $224,000.

Other hedge funds also recently modified their holdings of the company. Aviance Capital Partners LLC grew its holdings in shares of Coca-Cola by 249.1% during the first quarter. Aviance Capital Partners LLC now owns 23,634 shares of the company’s stock worth $1,446,000 after buying an additional 16,864 shares in the last quarter. BKM Wealth Management LLC grew its holdings in shares of Coca-Cola by 23.2% during the first quarter. BKM Wealth Management LLC now owns 8,206 shares of the company’s stock worth $502,000 after buying an additional 1,547 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Coca-Cola by 3.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 356,812 shares of the company’s stock worth $21,830,000 after buying an additional 11,299 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in shares of Coca-Cola by 3.7% during the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 11,132 shares of the company’s stock worth $681,000 after buying an additional 395 shares in the last quarter. Finally, Synergy Asset Management LLC grew its holdings in shares of Coca-Cola by 16.7% during the first quarter. Synergy Asset Management LLC now owns 353,611 shares of the company’s stock worth $21,634,000 after buying an additional 50,489 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the subject of a number of research reports. Royal Bank of Canada increased their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft raised their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, TD Cowen raised their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.80.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $66.92 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 12 month low of $55.10 and a 12 month high of $73.53. The stock has a 50 day moving average of $70.66 and a 200-day moving average of $66.11. The company has a market capitalization of $288.29 billion, a P/E ratio of 26.77, a P/E/G ratio of 3.91 and a beta of 0.60.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share 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 return on equity of 43.62% and a net margin of 22.92%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the firm posted $0.74 EPS. As a group, equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

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 issued a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 2.90%. Coca-Cola’s payout ratio is currently 77.60%.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,398,603.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 319,005 shares of company stock valued at $22,198,147. Insiders own 0.97% of the company’s stock.

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.