Pure Financial Advisors LLC Grows Position in The Coca-Cola Company (NYSE:KO)

Pure Financial Advisors LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 95.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,755 shares of the company’s stock after buying an additional 4,757 shares during the quarter. Pure Financial Advisors LLC’s holdings in Coca-Cola were worth $701,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in KO. Price T Rowe Associates Inc. MD raised its position in Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares during the period. Legal & General Group Plc raised its holdings in shares of Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock valued at $2,463,373,000 after buying an additional 1,084,475 shares during the period. Truist Financial Corp lifted its stake in Coca-Cola by 1.1% during the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after acquiring an additional 177,241 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Coca-Cola by 30.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after acquiring an additional 2,964,850 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Coca-Cola by 15.7% during the first quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock worth $638,344,000 after purchasing an additional 1,417,930 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on KO shares. Truist Financial lifted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Bank of America lifted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.80.

Insider Buying and Selling

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,150,619.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nancy Quan sold 18,484 shares of the firm’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 directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 261,870 shares of company stock valued at $18,256,369 over the last quarter. 0.97% of the stock is currently owned by insiders.

Coca-Cola Trading Down 0.5 %

KO opened at $65.01 on Monday. 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 Coca-Cola Company has a 52 week low of $56.06 and a 52 week high of $73.53. The business’s 50 day moving average is $70.29 and its two-hundred day moving average is $66.37. The firm has a market cap of $280.05 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 3.97 and a beta of 0.62.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 EPS. On average, research analysts predict 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. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 2.98%. Coca-Cola’s dividend payout ratio (DPR) is 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.