Graypoint LLC Purchases 1,836 Shares of The Coca-Cola Company (NYSE:KO)

Graypoint LLC grew its position in shares of The Coca-Cola Company (NYSE:KO) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,910 shares of the company’s stock after purchasing an additional 1,836 shares during the period. Graypoint LLC’s holdings in Coca-Cola were worth $2,652,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Apella Capital LLC increased its position in shares of Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after acquiring an additional 146 shares during the period. Investment Advisory Group LLC grew its holdings in shares of Coca-Cola by 4.5% during the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after buying an additional 146 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC increased its holdings in Coca-Cola by 2.2% in the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after buying an additional 149 shares during the period. CCG Wealth Management LLC lifted its holdings in shares of Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after buying an additional 149 shares during the period. Finally, Investment Partners Asset Management Inc. increased its holdings in Coca-Cola by 2.2% in the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after buying an additional 150 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Lisa Chang sold 40,334 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the transaction, the executive vice president now directly owns 74,067 shares in the company, valued at $5,150,619.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Coca-Cola news, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 42,397 shares of Coca-Cola stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 203,748 shares of company stock worth $14,274,431 in the last quarter. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 2.6 %

Shares of KO stock opened at $63.68 on Thursday. The company has a market capitalization of $274.30 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 3.96 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock’s 50 day simple moving average is $69.90 and its 200 day simple moving average is $66.43. The Coca-Cola Company has a twelve month low of $56.06 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the company posted $0.74 earnings per share. As a group, research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.05%. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Analyst Ratings Changes

Several analysts recently issued reports on KO shares. Truist Financial upped their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Citigroup upped their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Barclays cut 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. Finally, Morgan Stanley cut their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.80.

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.