Oak Harbor Wealth Partners LLC Purchases 652 Shares of The Coca-Cola Company (NYSE:KO)

Oak Harbor Wealth Partners LLC increased its position in shares of The Coca-Cola Company (NYSE:KO) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,521 shares of the company’s stock after purchasing an additional 652 shares during the period. Coca-Cola comprises about 1.1% of Oak Harbor Wealth Partners LLC’s investment portfolio, making the stock its 24th largest position. Oak Harbor Wealth Partners LLC’s holdings in Coca-Cola were worth $3,702,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Harvest Portfolios Group Inc. acquired a new stake in shares of Coca-Cola in the third quarter valued at $18,383,000. Balentine LLC grew its holdings in Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after acquiring an additional 13,685 shares during the last quarter. State of Alaska Department of Revenue increased its position in Coca-Cola by 4.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock valued at $32,895,000 after acquiring an additional 21,005 shares in the last quarter. United Bank increased its position in Coca-Cola by 65.4% in the 3rd quarter. United Bank now owns 80,888 shares of the company’s stock valued at $5,813,000 after acquiring an additional 31,979 shares in the last quarter. Finally, Advisor Resource Council acquired a new position in shares of Coca-Cola during the third quarter worth approximately $769,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 40,334 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 trade represents a 35.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 303,748 shares of company stock worth $20,677,431. 0.97% of the stock is owned by insiders.

Coca-Cola Price Performance

KO stock opened at $62.55 on Friday. The stock has a market cap of $269.43 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The stock has a 50-day moving average price of $68.99 and a two-hundred day moving average price of $66.51. The Coca-Cola Company has a 1 year low of $56.70 and a 1 year high of $73.53. 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 announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 EPS. Equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed 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 3.10%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Citigroup lifted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Truist Financial increased their price target on 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 lifted their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Finally, StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $72.36.

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.