Brown Lisle Cummings Inc. Boosts Stake in The Coca-Cola Company (NYSE:KO)

Brown Lisle Cummings Inc. lifted its holdings in The Coca-Cola Company (NYSE:KO) by 1.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 18,601 shares of the company’s stock after acquiring an additional 256 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in Coca-Cola were worth $1,337,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. New Millennium Group LLC bought a new position in Coca-Cola in the 2nd quarter valued at $26,000. Quarry LP bought a new position in Coca-Cola during the second quarter valued at about $27,000. ESL Trust Services LLC bought a new stake in Coca-Cola in the first quarter worth about $28,000. Redmont Wealth Advisors LLC purchased a new position in Coca-Cola in the first quarter valued at approximately $28,000. Finally, DiNuzzo Private Wealth Inc. raised its stake in Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after acquiring an additional 206 shares during the period. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Performance

Coca-Cola stock opened at $70.44 on Monday. The firm has a fifty day simple moving average of $70.70 and a two-hundred day simple moving average of $65.80. The Coca-Cola Company has a twelve month low of $53.86 and a twelve month high of $73.53. The company has a market capitalization of $303.45 billion, a PE ratio of 28.18, a P/E/G ratio of 3.92 and a beta of 0.60. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.

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

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 77.60%.

Analysts Set New Price Targets

KO has been the topic of a number of recent research reports. BNP Paribas assumed coverage on shares of Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Morgan Stanley lifted their target price on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Royal Bank of Canada increased their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Barclays boosted their price objective on shares of Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Five 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated 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 sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of 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 document filed with the SEC, which is available through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola 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 transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 356,792 shares of company stock valued at $24,728,364. 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.