Lodestone Wealth Management LLC Has $475,000 Stock Position in The Coca-Cola Company (NYSE:KO)

by · The Markets Daily

Lodestone Wealth Management LLC lessened its stake in The Coca-Cola Company (NYSE:KO – Free Report) by 26.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,615 shares of the company’s stock after selling 2,347 shares during the quarter. Lodestone Wealth Management LLC’s holdings in Coca-Cola were worth $475,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in Coca-Cola by 3.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 356,812 shares of the company’s stock worth $21,830,000 after buying an additional 11,299 shares in the last quarter. Lincoln National Corp raised its holdings in Coca-Cola by 6.3% during the 1st quarter. Lincoln National Corp now owns 72,905 shares of the company’s stock worth $4,460,000 after purchasing an additional 4,345 shares during the last quarter. Summit Financial Wealth Advisors LLC lifted its position in Coca-Cola by 23.9% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 7,179 shares of the company’s stock valued at $439,000 after purchasing an additional 1,383 shares during the period. Hudock Inc. boosted its stake in shares of Coca-Cola by 72.9% in the 1st quarter. Hudock Inc. now owns 27,694 shares of the company’s stock valued at $1,694,000 after purchasing an additional 11,674 shares during the last quarter. Finally, Pacific Wealth Strategies Group Inc. grew its position in shares of Coca-Cola by 3.2% during the 1st quarter. Pacific Wealth Strategies Group Inc. now owns 21,528 shares of the company’s stock worth $1,317,000 after buying an additional 675 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

NYSE KO opened at $65.01 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a 52-week low of $56.06 and a 52-week high of $73.53. The business has a 50 day simple moving average of $70.29 and a 200 day simple moving average of $66.32. The stock has a market cap of $280.05 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 3.97 and a beta of 0.62.

Coca-Cola (NYSE:KO – Get Free Report) last posted 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 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 revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 EPS. Analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.98%. Coca-Cola’s payout ratio is presently 80.17%.

Insider Activity at Coca-Cola

In other news, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total value of $3,981,938.22. Following the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,074,330.17. 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 can be accessed through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the transaction, the executive vice president now directly owns 74,067 shares in the company, valued at $5,074,330.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 261,870 shares of company stock valued at $18,256,369. 0.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KO shares. Wells Fargo & Company increased their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Citigroup increased their price target on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada lifted their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their price objective on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Finally, Truist Financial raised 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. Five 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. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $71.80.

Read Our Latest Analysis on Coca-Cola

About Coca-Cola

(Free Report)

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.

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