Aspen Wealth Strategies LLC Buys Shares of 3,005 The Coca-Cola Company (NYSE:KO)

Aspen Wealth Strategies LLC acquired a new stake in The Coca-Cola Company (NYSE:KO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,005 shares of the company’s stock, valued at approximately $216,000.

Several other institutional investors also recently bought and sold shares of KO. Price T Rowe Associates Inc. MD raised its holdings in shares of Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Coca-Cola by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after buying an additional 2,964,850 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in Coca-Cola in the second quarter valued at $188,448,000. M&G Plc acquired a new position in shares of Coca-Cola during the 1st quarter worth about $157,087,000. Finally, Pathway Financial Advisers LLC boosted its position in shares of Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after acquiring an additional 2,443,612 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Coca-Cola stock opened at $65.31 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The business has a 50 day simple moving average of $70.39 and a 200-day simple moving average of $66.21. The Coca-Cola Company has a 12 month low of $56.06 and a 12 month high of $73.53. The stock has a market capitalization of $281.34 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 4.00 and a beta of 0.60.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. Equities analysts predict that The Coca-Cola Company will post 2.85 earnings per share 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 paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on KO shares. Royal Bank of Canada boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Barclays lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. TD Cowen boosted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Hsbc Global Res raised 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 given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.80.

Insider Transactions at Coca-Cola

In related news, EVP Lisa Chang sold 58,122 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,074,330.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa Chang sold 58,122 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the completion of the sale, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,074,330.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 261,870 shares of company stock valued at $18,256,369. Corporate insiders own 0.97% of the company’s stock.

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.