The Coca-Cola Company (NYSE:KO) Position Increased by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,887 shares of the company’s stock after buying an additional 764 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Coca-Cola were worth $1,213,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Apella Capital LLC lifted its stake in shares of Coca-Cola by 1.4% in the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after purchasing an additional 146 shares during the period. Investment Advisory Group LLC increased its holdings in Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after purchasing an additional 146 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC lifted its stake in Coca-Cola by 2.2% in the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after buying an additional 149 shares during the period. CCG Wealth Management LLC boosted its holdings in Coca-Cola by 4.3% during the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after buying an additional 149 shares during the last quarter. Finally, Investment Partners Asset Management Inc. grew its position in shares of Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after buying an additional 150 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of KO opened at $64.12 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The stock has a market capitalization of $276.22 billion, a P/E ratio of 26.50, a P/E/G ratio of 3.91 and a beta of 0.61. The company has a 50 day moving average of $67.07 and a 200-day moving average of $66.56.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the firm earned $0.74 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 3.03%. Coca-Cola’s payout ratio is presently 80.17%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KO. Barclays cut their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company lifted their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Truist Financial upped their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. 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. Finally, Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Four 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

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.