Cassaday & Co Wealth Management LLC Increases Position in The Coca-Cola Company (NYSE:KO)

Cassaday & Co Wealth Management LLC lifted its holdings in shares of The Coca-Cola Company (NYSE:KOFree Report) by 7.5% in the third quarter, HoldingsChannel.com reports. The fund owned 11,647 shares of the company’s stock after acquiring an additional 817 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Coca-Cola were worth $837,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Edgestream Partners L.P. raised its stake in Coca-Cola by 46.2% in the 1st quarter. Edgestream Partners L.P. now owns 43,301 shares of the company’s stock valued at $2,649,000 after acquiring an additional 13,675 shares during the period. Davis R M Inc. lifted its stake in shares of Coca-Cola by 14.2% during the 1st quarter. Davis R M Inc. now owns 19,878 shares of the company’s stock valued at $1,216,000 after buying an additional 2,473 shares in the last quarter. Hilltop Partners LLC grew its stake in Coca-Cola by 5.6% in the 1st quarter. Hilltop Partners LLC now owns 14,270 shares of the company’s stock valued at $873,000 after buying an additional 757 shares in the last quarter. Capitolis Liquid Global Markets LLC lifted its position in shares of Coca-Cola by 457.7% during the first quarter. Capitolis Liquid Global Markets LLC now owns 1,115,400 shares of the company’s stock worth $68,240,000 after acquiring an additional 915,400 shares in the last quarter. Finally, Atlanta Consulting Group Advisors LLC bought a new position in shares of Coca-Cola in the first quarter worth $4,191,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Down 1.3 %

NYSE KO opened at $61.74 on Monday. The firm has a market cap of $265.96 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 3.75 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $56.70 and a 1-year high of $73.53. The stock has a 50-day moving average of $68.63 and a 200-day moving average of $66.54. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KOGet Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 earnings per share. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently announced 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. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Morgan Stanley reduced their price objective 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, October 24th. Barclays lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Royal Bank of Canada boosted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, TD Cowen increased their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $72.36.

View Our Latest Research Report on KO

Insider Activity at Coca-Cola

In related news, EVP Lisa Chang sold 40,334 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,150,619.18. The trade was a 35.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 18.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 303,748 shares of company stock worth $20,677,431 over the last 90 days. 0.97% of the stock is owned by company insiders.

Coca-Cola Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KOFree Report).

Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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