RIA Advisory Group LLC Takes $5.58 Million Position in The Coca-Cola Company (NYSE:KO)

RIA Advisory Group LLC acquired a new stake in shares of The Coca-Cola Company (NYSE:KO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 77,612 shares of the company’s stock, valued at approximately $5,577,000. Coca-Cola comprises approximately 2.0% of RIA Advisory Group LLC’s holdings, making the stock its 9th biggest holding.

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

Insider Buying and Selling

In related news, CEO James Quincey sold 102,533 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 18.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 303,748 shares of company stock valued at $20,677,431 in the last quarter. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

NYSE KO traded down $0.81 during trading hours on Friday, hitting $61.74. The company had a trading volume of 26,284,331 shares, compared to its average volume of 13,364,542. The Coca-Cola Company has a 1-year low of $56.70 and a 1-year high of $73.53. The company has a market cap of $265.96 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The business has a 50 day moving average of $68.63 and a 200-day moving average of $66.48. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating 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 firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the firm earned $0.74 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. As a group, equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. Coca-Cola’s payout ratio is 80.17%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Royal Bank of Canada upped their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. TD Cowen raised their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Four equities research 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.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $72.36.

Coca-Cola Profile

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.