American Capital Advisory LLC Buys 391 Shares of The Coca-Cola Company (NYSE:KO)

06 Nov 2024, 18:40 by Tristan Rich · The Markets Daily

American Capital Advisory LLC increased its holdings in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 55.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,096 shares of the company’s stock after purchasing an additional 391 shares during the period. American Capital Advisory LLC’s holdings in Coca-Cola were worth $79,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of KO. New Millennium Group LLC bought a new position in Coca-Cola during the second quarter worth about $26,000. Quarry LP bought a new position in Coca-Cola during the second quarter worth about $27,000. ESL Trust Services LLC bought a new position in Coca-Cola during the first quarter worth about $28,000. DiNuzzo Private Wealth Inc. grew its holdings in Coca-Cola by 65.0% during the first 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. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola during the third quarter worth about $36,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. TD Cowen raised their price objective 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 objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley cut their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company raised their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.80.

Get Our Latest Stock Report on Coca-Cola

Coca-Cola Price Performance

KO traded down $1.31 during trading on Wednesday, hitting $64.06. 6,947,063 shares of the stock traded hands, compared to its average volume of 13,195,886. The Coca-Cola Company has a twelve month low of $56.06 and a twelve month high of $73.53. The company has a market cap of $275.96 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 3.95 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 business has a 50 day moving average price of $70.06 and a 200 day moving average price of $66.45.

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

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.03%. Coca-Cola’s payout ratio is presently 80.17%.

Insider Buying and Selling

In related 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 value of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the company’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 sale, the executive vice president now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the sale, the executive vice president now directly owns 74,067 shares in the company, valued at $5,150,619.18. 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 203,748 shares of company stock valued at $14,274,431 over the last 90 days. 0.97% of the stock is owned by insiders.

Coca-Cola Company Profile

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