Cornerstone Wealth Management LLC Acquires 1,150 Shares of The Coca-Cola Company (NYSE:KO)

Cornerstone Wealth Management LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,071 shares of the company’s stock after buying an additional 1,150 shares during the period. Cornerstone Wealth Management LLC’s holdings in Coca-Cola were worth $8,125,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Millennium Group LLC purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at about $26,000. Quarry LP purchased a new stake in Coca-Cola during the 2nd quarter valued at $27,000. Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola in the first quarter worth about $28,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola during the first quarter valued at approximately $28,000. Finally, DiNuzzo Private Wealth Inc. raised its holdings in Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Morgan Stanley raised their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. BNP Paribas started coverage on shares of Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target on the stock. Finally, Citigroup upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Five equities research 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 stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $72.00.

Coca-Cola Price Performance

KO stock opened at $70.52 on Thursday. The Coca-Cola Company has a 1 year low of $53.21 and a 1 year high of $73.53. The business’s 50-day moving average is $70.64 and its two-hundred day moving average is $65.62. The firm has a market capitalization of $303.80 billion, a P/E ratio of 28.21, a P/E/G ratio of 3.92 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.485 per share. The ex-dividend date was Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.75%. Coca-Cola’s payout ratio is currently 77.60%.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Nancy Quan sold 18,484 shares of the 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 356,792 shares of company stock valued at $24,728,364. Corporate insiders own 0.97% of the company’s stock.

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.