Wedmont Private Capital Has $3.08 Million Stake in The Coca-Cola Company (NYSE:KO)

Wedmont Private Capital grew its position in The Coca-Cola Company (NYSE:KO) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,557 shares of the company’s stock after purchasing an additional 1,813 shares during the quarter. Wedmont Private Capital’s holdings in Coca-Cola were worth $3,075,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Apella Capital LLC lifted its stake in Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after purchasing an additional 146 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC lifted its position in Coca-Cola by 2.2% in 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. Drive Wealth Management LLC boosted its stake in Coca-Cola by 1.6% in the second quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock worth $630,000 after buying an additional 151 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Coca-Cola by 4.4% during the second quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock valued at $231,000 after acquiring an additional 153 shares during the last quarter. Finally, Chapin Davis Inc. raised its stake in shares of Coca-Cola by 1.0% during the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock worth $1,100,000 after acquiring an additional 153 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 376,096 shares of company stock worth $25,982,352. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Trading Up 0.5 %

Shares of KO opened at $69.56 on Thursday. The Coca-Cola Company has a 1-year low of $52.43 and a 1-year high of $73.53. 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’s 50-day moving average price is $70.43 and its 200-day moving average price is $65.27. The firm has a market capitalization of $299.66 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.97 and a beta of 0.60.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $11.78 billion. During the same period in the previous year, the firm posted $0.78 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Sell-side 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 issued a $0.485 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.79%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup upped their price objective 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. JPMorgan Chase & Co. raised their price objective on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. TD Cowen lifted their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Bank of America increased their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

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.