Stonegate Investment Group LLC Purchases 2,086 Shares of The Coca-Cola Company (NYSE:KO)

Stonegate Investment Group LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 235,468 shares of the company’s stock after buying an additional 2,086 shares during the period. Stonegate Investment Group LLC’s holdings in Coca-Cola were worth $16,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in Coca-Cola in the 2nd quarter valued at about $26,000. Quarry LP purchased a new stake in Coca-Cola in the 2nd quarter valued at about $27,000. ESL Trust Services LLC purchased a new stake in Coca-Cola in the 1st quarter valued at about $28,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola in the 1st quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. boosted its position in Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after buying an additional 206 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KO has been the subject of several research reports. BNP Paribas initiated coverage on shares of Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target for the company. 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. 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. Barclays upped their price target on shares of Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $72.00.

Coca-Cola Stock Performance

Shares of NYSE:KO traded up $0.22 during midday trading on Friday, reaching $70.12. The company’s stock had a trading volume of 4,456,828 shares, compared to its average volume of 13,111,867. The firm has a market capitalization of $302.07 billion, a PE ratio of 27.95, a P/E/G ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a twelve month low of $53.86 and a twelve month high of $73.53. The stock has a fifty day moving average of $70.67 and a 200 day moving average of $65.65. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.

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

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction dated 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 through this link. In other news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bruno Pietracci sold 38,653 shares of the business’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 disclosure for this sale can be found here. Insiders sold a total of 356,792 shares of company stock worth $24,728,364 over the last three months. Insiders own 0.97% of the company’s stock.

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.