Sheaff Brock Investment Advisors LLC Purchases 59,503 Shares of The Coca-Cola Company (NYSE:KO)

Sheaff Brock Investment Advisors LLC boosted its holdings in The Coca-Cola Company (NYSE:KO) by 104.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,214 shares of the company’s stock after buying an additional 59,503 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Coca-Cola were worth $8,351,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in KO. New Millennium Group LLC bought a new stake in Coca-Cola in the second quarter valued at approximately $26,000. Quarry LP acquired a new position in shares of Coca-Cola in the 2nd quarter worth approximately $27,000. ESL Trust Services LLC bought a new stake in shares of Coca-Cola in the 1st quarter valued at $28,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola during the third quarter worth $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola in the third quarter valued at $36,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on KO. Deutsche Bank Aktiengesellschaft lifted their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Truist Financial boosted 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. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.36.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the transaction, the executive vice president now directly owns 74,067 shares in the company, valued at $5,150,619.18. This represents a 35.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 303,748 shares of company stock valued at $20,677,431 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

KO stock opened at $62.48 on Friday. 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 business has a 50-day simple moving average of $68.99 and a two-hundred day simple moving average of $66.51. The company has a market capitalization of $269.15 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a 52-week low of $56.70 and a 52-week high of $73.53.

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

Coca-Cola Dividend Announcement

The company also recently announced 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 3.10%. Coca-Cola’s dividend payout ratio is currently 80.17%.

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.