Quent Capital LLC Increases Position in The Coca-Cola Company (NYSE:KO)

Quent Capital LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 8.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,590 shares of the company’s stock after acquiring an additional 786 shares during the period. Quent Capital LLC’s holdings in Coca-Cola were worth $761,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Wealth Quarterback LLC grew its position in Coca-Cola by 3.2% in the 4th quarter. Wealth Quarterback LLC now owns 17,454 shares of the company’s stock valued at $1,029,000 after buying an additional 537 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Coca-Cola during the fourth quarter worth about $69,000. Sompo Asset Management Co. Ltd. raised its holdings in Coca-Cola by 64.0% during the fourth quarter. Sompo Asset Management Co. Ltd. now owns 135,770 shares of the company’s stock worth $8,001,000 after purchasing an additional 52,960 shares in the last quarter. Socorro Asset Management LP lifted its position in Coca-Cola by 0.7% in the fourth quarter. Socorro Asset Management LP now owns 147,498 shares of the company’s stock valued at $8,692,000 after purchasing an additional 1,079 shares during the period. Finally, OLD Point Trust & Financial Services N A boosted its holdings in Coca-Cola by 3.6% in the 4th quarter. OLD Point Trust & Financial Services N A now owns 24,960 shares of the company’s stock valued at $1,471,000 after purchasing an additional 865 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Bank of America raised their price target on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company upped their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Morgan Stanley increased their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Finally, Truist Financial boosted their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Five investment 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 stock. According to data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $71.07.

Coca-Cola Price Performance

Shares of NYSE KO traded down $0.35 during trading on Friday, reaching $70.17. The company had a trading volume of 12,687,289 shares, compared to its average volume of 13,277,112. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $302.29 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $73.53. The stock has a 50-day moving average price of $70.35 and a two-hundred day moving average price of $65.09.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 EPS. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.485 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.76%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,507,516.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 102,533 shares of the stock in a transaction that occurred 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 directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 376,096 shares of company stock valued at $25,982,352 in the last quarter. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Company Profile

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.