CFS Investment Advisory Services LLC Has $3.09 Million Stock Position in The Coca-Cola Company (NYSE:KO)

22 Nov 2024, 13:16 by Doug Wharley · The Cerbat Gem

CFS Investment Advisory Services LLC lessened its holdings in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 50.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,020 shares of the company’s stock after selling 43,336 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in Coca-Cola were worth $3,091,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Steel Grove Capital Advisors LLC raised its holdings in shares of Coca-Cola by 0.3% during the first quarter. Steel Grove Capital Advisors LLC now owns 90,988 shares of the company’s stock worth $5,567,000 after acquiring an additional 263 shares during the period. Kestra Advisory Services LLC lifted its holdings in shares of Coca-Cola by 12.1% in the first quarter. Kestra Advisory Services LLC now owns 506,387 shares of the company’s stock valued at $30,997,000 after purchasing an additional 54,507 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after buying an additional 8,733,326 shares in the last quarter. Beaird Harris Wealth Management LLC raised its position in Coca-Cola by 112.3% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,399 shares of the company’s stock valued at $86,000 after buying an additional 740 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its stake in Coca-Cola by 33.0% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 12,534 shares of the company’s stock valued at $767,000 after acquiring an additional 3,111 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 42,397 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 8.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 160,881 shares of company stock worth $10,693,244 over the last quarter. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock opened at $63.76 on Friday. The firm has a market cap of $274.67 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 3.80 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock’s fifty day moving average price is $67.94 and its two-hundred day moving average price is $66.50. The Coca-Cola Company has a one year low of $57.47 and a one year high of $73.53.

Coca-Cola (NYSE:KO – Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. As a group, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.04%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays lowered their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. TD Cowen increased their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $72.36.

Check Out Our Latest Stock Analysis on Coca-Cola

Coca-Cola Company Profile

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