OneAscent Wealth Management LLC Takes Position in The Coca-Cola Company (NYSE:KO)

OneAscent Wealth Management LLC acquired a new stake in shares of The Coca-Cola Company (NYSE:KO) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 10,204 shares of the company’s stock, valued at approximately $738,000.

Other institutional investors have also modified their holdings of the company. Harvest Portfolios Group Inc. bought a new position in shares of Coca-Cola during the 3rd quarter valued at about $18,383,000. Balentine LLC raised its position in Coca-Cola by 92.4% in the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after buying an additional 13,685 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its position in Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after buying an additional 59,503 shares during the last quarter. CIBC Asset Management Inc raised its position in Coca-Cola by 5.8% in the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock valued at $61,122,000 after buying an additional 46,541 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Coca-Cola by 4.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock valued at $32,895,000 after buying an additional 21,005 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Citigroup lifted their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Barclays dropped their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Royal Bank of Canada boosted their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Insider Buying and Selling

In related news, CEO James Quincey sold 102,533 shares of the business’s 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 sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The trade was a 18.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 303,748 shares of company stock valued at $20,677,431. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Performance

Shares of KO stock traded up $0.22 during trading on Monday, reaching $61.96. 1,684,285 shares of the company’s stock were exchanged, compared to its average volume of 13,312,563. 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 stock has a market capitalization of $266.91 billion, a PE ratio of 25.51, a PEG ratio of 3.75 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $56.96 and a twelve month high of $73.53. The firm’s fifty day moving average price is $68.63 and its 200-day moving average price is $66.54.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 EPS. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently announced 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. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is presently 80.17%.

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.