Ashton Thomas Securities LLC Boosts Stake in The Coca-Cola Company (NYSE:KO)

by · The Markets Daily

Ashton Thomas Securities LLC increased its position in The Coca-Cola Company (NYSE:KO – Free Report) by 21.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,133 shares of the company’s stock after buying an additional 2,298 shares during the period. Ashton Thomas Securities LLC’s holdings in Coca-Cola were worth $944,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its stake in shares of Coca-Cola by 20.6% during the first quarter. Meeder Asset Management Inc. now owns 6,634 shares of the company’s stock valued at $406,000 after buying an additional 1,133 shares during the last quarter. Verus Capital Partners LLC grew its stake in shares of Coca-Cola by 3.7% during the first quarter. Verus Capital Partners LLC now owns 7,059 shares of the company’s stock valued at $432,000 after buying an additional 252 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Coca-Cola by 11.1% during the first quarter. Avantax Advisory Services Inc. now owns 248,660 shares of the company’s stock valued at $15,213,000 after buying an additional 24,902 shares during the last quarter. Bleakley Financial Group LLC grew its stake in Coca-Cola by 2.1% in the first quarter. Bleakley Financial Group LLC now owns 127,086 shares of the company’s stock worth $7,775,000 after purchasing an additional 2,638 shares in the last quarter. Finally, Financial & Tax Architects LLC grew its stake in Coca-Cola by 1.5% in the first quarter. Financial & Tax Architects LLC now owns 92,863 shares of the company’s stock worth $5,681,000 after purchasing an additional 1,349 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of KO opened at $63.92 on Monday. The business’s 50-day moving average is $69.56 and its two-hundred day moving average is $66.48. The company has a market capitalization of $275.35 billion, a P/E ratio of 26.41, a P/E/G ratio of 3.88 and a beta of 0.61. 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 fifty-two week low of $56.06 and a fifty-two week high of $73.53.

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

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insider Activity

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 transaction of $1,321,606.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO James Quincey sold 42,397 shares of Coca-Cola stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola 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 completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 203,748 shares of company stock worth $14,274,431 in the last ninety days. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of several research analyst reports. Royal Bank of Canada increased 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. Barclays dropped their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Morgan Stanley dropped their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Truist Financial increased their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

View Our Latest Research Report 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.

Featured Articles