Investment Partners Asset Management Inc. Raises Stake in The Coca-Cola Company (NYSE:KO)

Investment Partners Asset Management Inc. boosted its stake in The Coca-Cola Company (NYSE:KO) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,956 shares of the company’s stock after acquiring an additional 150 shares during the period. Investment Partners Asset Management Inc.’s holdings in Coca-Cola were worth $500,000 as of its most recent filing with the SEC.

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

Coca-Cola Trading Up 0.1 %

Shares of NYSE:KO traded up $0.04 during trading on Monday, reaching $66.96. The company’s stock had a trading volume of 2,411,738 shares, compared to its average volume of 13,200,979. The stock has a market capitalization of $288.46 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 3.91 and a beta of 0.60. The Coca-Cola Company has a 12 month low of $55.42 and a 12 month high of $73.53. 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 firm’s 50 day simple moving average is $70.66 and its two-hundred day simple moving average is $66.11.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the business earned $0.74 EPS. On average, research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 2.90%. Coca-Cola’s payout ratio is 77.60%.

Analyst Upgrades and Downgrades

KO has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. 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 research note on Thursday. Truist Financial raised their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays cut their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday. Finally, StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Five equities 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 stock. According to MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $71.80.

Insider Buying and Selling at Coca-Cola

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

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.