Apella Capital LLC Increases Stock Position in The Coca-Cola Company (NYSE:KO)

Apella Capital LLC grew its position in shares of The Coca-Cola Company (NYSE:KO) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,533 shares of the company’s stock after purchasing an additional 146 shares during the quarter. Apella Capital LLC’s holdings in Coca-Cola were worth $748,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. New Millennium Group LLC acquired a new position in Coca-Cola during the second quarter worth approximately $26,000. Quarry LP purchased a new position in shares of Coca-Cola during the second quarter worth approximately $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of Coca-Cola in the 1st quarter valued at $28,000. ESL Trust Services LLC purchased a new stake in Coca-Cola in the 1st quarter valued at $28,000. Finally, DiNuzzo Private Wealth Inc. boosted its stake in Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

In other 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 directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. 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 over the last quarter. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on KO. TD Cowen raised their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Wells Fargo & Company upped their price target on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Truist Financial lifted their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $71.07.

Coca-Cola Price Performance

Coca-Cola stock traded down $0.35 during midday trading on Friday, reaching $70.17. 12,687,289 shares of the company were exchanged, compared to its average volume of 13,277,112. The company has a market capitalization of $302.29 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 3.97 and a beta of 0.60. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year 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. The firm’s 50-day simple moving average is $70.35 and its 200-day simple moving average is $65.09.

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

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.76%. The ex-dividend date was Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

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.