Lake Street Advisors Group LLC Purchases 280 Shares of The Coca-Cola Company (NYSE:KO)

by · The Cerbat Gem

Lake Street Advisors Group LLC lifted its position in The Coca-Cola Company (NYSE:KO – Free Report) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,045 shares of the company’s stock after acquiring an additional 280 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Coca-Cola were worth $2,029,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL raised its holdings in shares of Coca-Cola by 1.6% in the third quarter. Strategic Investment Solutions Inc. IL now owns 9,993 shares of the company’s stock valued at $718,000 after acquiring an additional 159 shares in the last quarter. Santori & Peters Inc. bought a new stake in shares of Coca-Cola in the third quarter valued at about $204,000. Ballentine Partners LLC raised its holdings in shares of Coca-Cola by 1.1% in the third quarter. Ballentine Partners LLC now owns 80,504 shares of the company’s stock valued at $5,785,000 after acquiring an additional 858 shares in the last quarter. Freedom Day Solutions LLC raised its holdings in shares of Coca-Cola by 1.1% in the third quarter. Freedom Day Solutions LLC now owns 14,229 shares of the company’s stock valued at $1,022,000 after acquiring an additional 160 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC raised its holdings in Coca-Cola by 15.4% in the third quarter. Moody Lynn & Lieberson LLC now owns 142,956 shares of the company’s stock worth $10,273,000 after purchasing an additional 19,099 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Lisa Chang sold 58,122 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,074,330.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 319,005 shares of company stock worth $22,198,147. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

NYSE KO traded up $0.21 during trading hours on Friday, reaching $67.51. The stock had a trading volume of 2,518,824 shares, compared to its average volume of 13,211,462. The stock has a fifty day moving average of $70.74 and a 200 day moving average of $65.96. The stock has a market cap of $290.83 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 52-week low of $55.10 and a 52-week high of $73.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

Coca-Cola (NYSE:KO – Get Free Report) last issued its earnings results 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 return on equity of 43.62% and a net margin of 22.92%. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. Sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 2.87%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup boosted 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. Morgan Stanley reduced their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada boosted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Five 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. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $71.87.

View Our Latest Analysis on Coca-Cola

About Coca-Cola

(Free Report)

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.

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