The Coca-Cola Company (NYSE:KO) Shares Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,417 shares of the company’s stock after purchasing an additional 2,458 shares during the period. Pallas Capital Advisors LLC’s holdings in Coca-Cola were worth $9,315,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in Coca-Cola by 3.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 356,812 shares of the company’s stock valued at $21,830,000 after purchasing an additional 11,299 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Coca-Cola during the first quarter valued at $204,000. Plimoth Trust Co. LLC increased its stake in Coca-Cola by 1.8% during the first quarter. Plimoth Trust Co. LLC now owns 64,498 shares of the company’s stock valued at $3,946,000 after purchasing an additional 1,118 shares during the last quarter. Kiley Juergens Wealth Management LLC increased its stake in Coca-Cola by 1.7% during the first quarter. Kiley Juergens Wealth Management LLC now owns 12,226 shares of the company’s stock valued at $748,000 after purchasing an additional 200 shares during the last quarter. Finally, KFG Wealth Management LLC increased its stake in Coca-Cola by 8.5% during the first quarter. KFG Wealth Management LLC now owns 4,954 shares of the company’s stock valued at $303,000 after purchasing an additional 387 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KO has been the subject of several recent research reports. Bank of America upped their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Finally, TD Cowen upped their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $71.80.

Insider Buying and Selling

In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 319,005 shares of company stock worth $22,198,147. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of KO opened at $66.67 on Tuesday. The company has a market capitalization of $287.21 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 3.91 and a beta of 0.60. The Coca-Cola Company has a fifty-two week low of $55.42 and a fifty-two week high of $73.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The business’s 50-day moving average is $70.62 and its 200-day moving average is $66.17.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. Equities 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 disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 2.91%. Coca-Cola’s dividend payout ratio is currently 77.60%.

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.