Goldstream Capital Management Ltd Acquires New Shares in The Coca-Cola Company (NYSE:KO)

Goldstream Capital Management Ltd bought a new position in shares of The Coca-Cola Company (NYSE:KO) in the third quarter, HoldingsChannel.com reports. The firm bought 18,598 shares of the company’s stock, valued at approximately $1,343,000. Coca-Cola comprises about 0.5% of Goldstream Capital Management Ltd’s portfolio, making the stock its 20th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KO. Apella Capital LLC lifted its stake in Coca-Cola by 1.4% in the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after acquiring an additional 146 shares during the last quarter. Investment Advisory Group LLC lifted its stake 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 lifted its stake in shares of Coca-Cola by 2.2% during 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 last quarter. CCG Wealth Management LLC lifted its stake in shares of 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 buying 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% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

KO stock opened at $62.51 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 12 month low of $57.47 and a 12 month high of $73.53. The firm has a market cap of $269.28 billion, a P/E ratio of 25.83, a P/E/G ratio of 3.78 and a beta of 0.61. The company’s 50-day moving average price is $66.40 and its two-hundred day moving average price is $66.56.

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

Coca-Cola Dividend Announcement

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 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 3.10%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Morgan Stanley cut their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company lowered their price target on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, December 2nd. Finally, Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Four 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 stock. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $72.14.

Coca-Cola Company 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.