Central Valley Advisors LLC Increases Position in The Coca-Cola Company (NYSE:KO)

Central Valley Advisors LLC increased its position in shares of The Coca-Cola Company (NYSE:KO) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,620 shares of the company’s stock after acquiring an additional 369 shares during the quarter. Central Valley Advisors LLC’s holdings in Coca-Cola were worth $332,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Millennium Group LLC purchased a new position in shares of Coca-Cola during the 2nd quarter worth about $26,000. Quarry LP acquired a new position in shares of Coca-Cola in the 2nd quarter valued at $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Coca-Cola during the 1st quarter valued at $28,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola during the 1st quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. raised its position in shares of Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after buying an additional 206 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Down 0.5 %

KO stock traded down $0.35 during midday trading on Friday, hitting $70.17. 12,687,289 shares of the company’s stock were exchanged, compared to its average volume of 13,277,112. The stock has a market capitalization of $302.29 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The firm has a 50 day moving average price of $70.35 and a 200-day moving average price of $65.09. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s payout ratio is currently 77.60%.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of research reports. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. TD Cowen increased their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Truist Financial raised their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company boosted their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Citigroup raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 102,533 shares of the firm’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 value of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 376,096 shares of company stock valued at $25,982,352 in the last quarter. 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.