Davis R M Inc. Buys 1,965 Shares of The Coca-Cola Company (NYSE:KO)

Davis R M Inc. boosted its position in shares of The Coca-Cola Company (NYSE:KO) by 12.6% during the third quarter, Holdings Channel.com reports. The fund owned 17,575 shares of the company’s stock after acquiring an additional 1,965 shares during the quarter. Davis R M Inc.’s holdings in Coca-Cola were worth $1,263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in KO. Apella Capital LLC boosted its holdings in Coca-Cola by 1.4% in the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after buying an additional 146 shares during the period. Investment Advisory Group LLC lifted its position in shares of Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after acquiring an additional 146 shares in the last quarter. Elwood & Goetz Wealth Advisory Group LLC boosted its stake in shares of Coca-Cola by 2.2% in the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after acquiring an additional 149 shares during the period. CCG Wealth Management LLC grew its position in shares of Coca-Cola by 4.3% during the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after purchasing an additional 149 shares in the last quarter. Finally, Investment Partners Asset Management Inc. raised its stake in Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Up 0.7 %

Coca-Cola stock opened at $64.38 on Tuesday. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The business has a fifty day moving average of $67.63 and a two-hundred day moving average of $66.58. The firm has a market cap of $277.34 billion, a P/E ratio of 26.60, a P/E/G ratio of 3.88 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period in the prior year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

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 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 yield of 3.01%. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Wall Street Analyst Weigh In

KO has been the subject of several recent analyst reports. Barclays dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Truist Financial boosted their target price 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola 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.