Patriot Financial Group Insurance Agency LLC Buys 392 Shares of The Coca-Cola Company (NYSE:KO)

Patriot Financial Group Insurance Agency LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,778 shares of the company’s stock after buying an additional 392 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Coca-Cola were worth $1,062,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its stake in shares of Coca-Cola by 4.8% during the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after acquiring an additional 21,005 shares in the last quarter. Swedbank AB purchased a new position in Coca-Cola in the 1st quarter worth $102,604,000. BDF Gestion bought a new stake in Coca-Cola in the second quarter worth $7,421,000. Duality Advisers LP boosted its position 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 period. Finally, TD Asset Management Inc grew its stake in shares of 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. 70.26% of the stock is owned by institutional investors.

Coca-Cola Price Performance

KO stock opened at $66.67 on Tuesday. The firm has a 50-day moving average of $70.62 and a 200 day moving average of $66.17. 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 company has a market cap of $287.21 billion, a P/E ratio of 26.67, a PEG ratio of 3.91 and a beta of 0.60. The Coca-Cola Company has a 1 year low of $55.42 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Analysts Set New Price Targets

KO has been the subject of a number of recent research reports. Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Bank of America increased their price objective on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.80.

Insider Buying and Selling

In related news, insider Bruno Pietracci sold 38,653 shares of the business’s 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Coca-Cola 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 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. 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 completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $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 sold a total of 319,005 shares of company stock worth $22,198,147 in the last three months. 0.97% of the stock is owned by corporate insiders.

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.