The Coca-Cola Company (NYSE:KO) Shares Acquired by Arrow Financial Corp

Arrow Financial Corp lifted its holdings in The Coca-Cola Company (NYSE:KO) by 2.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,002 shares of the company’s stock after purchasing an additional 906 shares during the quarter. Arrow Financial Corp’s holdings in Coca-Cola were worth $2,300,000 as of its most recent SEC filing.

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

Coca-Cola Price Performance

Shares of NYSE KO opened at $63.92 on Friday. The stock has a 50 day moving average of $69.56 and a two-hundred day moving average of $66.44. The Coca-Cola Company has a twelve month low of $56.06 and a twelve month high of $73.53. The stock has a market cap of $275.35 billion, a P/E ratio of 26.41, a P/E/G ratio of 3.87 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

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

Coca-Cola Announces Dividend

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 issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Wall Street Analyst Weigh In

KO has been the subject of several recent research reports. Wells Fargo & Company lifted their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. TD Cowen boosted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Truist Financial raised their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada increased their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Five investment 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.80.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the transaction, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,150,619.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Lisa Chang sold 40,334 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 203,748 shares of company stock worth $14,274,431 in the last three months. 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.