Armstrong Advisory Group Inc. Sells 516 Shares of The Coca-Cola Company (NYSE:KO)

Armstrong Advisory Group Inc. decreased its position in The Coca-Cola Company (NYSE:KO) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,185 shares of the company’s stock after selling 516 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in Coca-Cola were worth $2,241,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Rise Advisors LLC boosted its position in shares of Coca-Cola by 2.8% in the third quarter. Rise Advisors LLC now owns 7,762 shares of the company’s stock valued at $558,000 after acquiring an additional 214 shares during the period. Sunflower Bank N.A. raised its stake in Coca-Cola by 3.1% during the 3rd quarter. Sunflower Bank N.A. now owns 27,099 shares of the company’s stock valued at $1,947,000 after purchasing an additional 804 shares during the last quarter. Crestmont Private Wealth LLC bought a new stake in Coca-Cola in the 3rd quarter valued at $216,000. CHICAGO TRUST Co NA grew its position in Coca-Cola by 3.1% in the 3rd quarter. CHICAGO TRUST Co NA now owns 30,886 shares of the company’s stock worth $2,219,000 after purchasing an additional 928 shares during the last quarter. Finally, Carnegie Investment Counsel raised its position in shares of Coca-Cola by 0.9% during the third quarter. Carnegie Investment Counsel now owns 82,488 shares of the company’s stock valued at $5,927,000 after buying an additional 761 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Bank of America upped their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. BNP Paribas began coverage on shares of Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Royal Bank of Canada raised their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Citigroup upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.33.

Coca-Cola Price Performance

Shares of KO stock opened at $69.57 on Monday. The stock’s fifty day moving average is $70.51 and its 200-day moving average is $65.46. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The Coca-Cola Company has a 52 week low of $52.43 and a 52 week high of $73.53. The stock has a market capitalization of $299.70 billion, a PE ratio of 27.83, a PEG ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The company’s revenue was up 3.3% on a year-over-year basis. Equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.79%. The ex-dividend date was Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insiders Place Their Bets

In other news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction 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 can be accessed through the SEC website. In other news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The shares were 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 available at this link. Also, EVP Nancy Quan sold 19,304 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,507,516.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 376,096 shares of company stock valued at $25,982,352. 0.97% of the stock is currently owned by corporate insiders.

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.