Whitener Capital Management Inc. Has $2.42 Million Position in The Coca-Cola Company (NYSE:KO)

by · The Markets Daily

Whitener Capital Management Inc. boosted its position in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 2.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 33,663 shares of the company’s stock after purchasing an additional 955 shares during the quarter. Whitener Capital Management Inc.’s holdings in Coca-Cola were worth $2,419,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of KO. Confluence Wealth Services Inc. grew its position in shares of Coca-Cola by 4.5% during the 3rd quarter. Confluence Wealth Services Inc. now owns 18,865 shares of the company’s stock worth $1,356,000 after buying an additional 806 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Coca-Cola by 0.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 53,889 shares of the company’s stock worth $3,872,000 after purchasing an additional 256 shares during the last quarter. Pure Financial Advisors LLC grew its stake in shares of Coca-Cola by 95.2% during the third quarter. Pure Financial Advisors LLC now owns 9,755 shares of the company’s stock worth $701,000 after purchasing an additional 4,757 shares during the period. Janney Capital Management LLC grew its stake in shares of Coca-Cola by 1.5% during the third quarter. Janney Capital Management LLC now owns 48,289 shares of the company’s stock worth $3,470,000 after purchasing an additional 719 shares during the period. Finally, Northern Financial Advisors Inc increased its holdings in Coca-Cola by 3.2% in the third quarter. Northern Financial Advisors Inc now owns 19,305 shares of the company’s stock valued at $1,387,000 after purchasing an additional 594 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Down 0.5 %

Shares of KO stock opened at $65.01 on Friday. The Coca-Cola Company has a 52-week low of $56.06 and a 52-week high of $73.53. 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 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. The firm’s 50-day moving average is $70.29 and its 200-day moving average is $66.32.

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

Coca-Cola Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KO shares. Deutsche Bank Aktiengesellschaft boosted their target price on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Wells Fargo & Company increased their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Morgan Stanley decreased their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Royal Bank of Canada increased their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

View Our Latest Report on KO

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 261,870 shares of company stock valued at $18,256,369 over the last ninety days. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Company Profile

(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 Stories

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KO – Free Report).