Longview Financial Advisors Inc. Invests $229,000 in The Coca-Cola Company (NYSE:KO)

Longview Financial Advisors Inc. acquired a new position in The Coca-Cola Company (NYSE:KO) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,187 shares of the company’s stock, valued at approximately $229,000.

A number of other hedge funds have also recently made changes to their positions in KO. Swedbank AB bought a new position in Coca-Cola during the first quarter valued at approximately $102,604,000. BDF Gestion bought a new position in Coca-Cola during the second quarter valued at approximately $7,421,000. Duality Advisers LP boosted its stake in Coca-Cola by 191.1% during the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock valued at $6,843,000 after buying an additional 73,434 shares during the last quarter. TD Asset Management Inc boosted its stake in Coca-Cola by 0.7% during the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock valued at $179,578,000 after buying an additional 20,048 shares during the last quarter. Finally, New Mexico Educational Retirement Board lifted its stake in shares of Coca-Cola by 11.6% in the 1st quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock valued at $14,013,000 after purchasing an additional 23,500 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 37,787 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,954,176.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Nancy Quan sold 37,787 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,954,176.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 356,792 shares of company stock worth $24,728,364 in the last ninety days. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Up 0.8 %

Shares of NYSE:KO traded up $0.54 on Friday, reaching $70.44. The company had a trading volume of 15,087,519 shares, compared to its average volume of 13,165,565. The Coca-Cola Company has a 52-week low of $53.86 and a 52-week high of $73.53. The firm’s 50 day simple moving average is $70.70 and its 200-day simple moving average is $65.76. The firm has a market capitalization of $303.45 billion, a PE ratio of 28.18, a PEG ratio of 3.92 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same period last year, the business posted $0.78 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, analysts expect 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 declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.75%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on KO shares. Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Barclays raised their price target on Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. BNP Paribas started coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price target for the company. Finally, Citigroup raised their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Five investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

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.