The Coca-Cola Company (NYSE:KO) Shares Purchased by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. raised its stake in The Coca-Cola Company (NYSE:KO) by 4.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,865 shares of the company’s stock after acquiring an additional 806 shares during the period. Confluence Wealth Services Inc.’s holdings in Coca-Cola were worth $1,356,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Coca-Cola by 30.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after acquiring an additional 2,964,850 shares during the period. Manning & Napier Advisors LLC bought a new stake in Coca-Cola during the 2nd quarter valued at $188,448,000. M&G Plc acquired a new position in Coca-Cola during the 1st quarter worth $157,087,000. Finally, Pathway Financial Advisers LLC grew its stake in shares of Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after purchasing an additional 2,443,612 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays cut their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Royal Bank of Canada upped their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Truist Financial raised their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Bank of America upped their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $71.80.

Coca-Cola Stock Down 0.5 %

KO opened at $65.01 on Friday. The company has a market capitalization of $280.05 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 3.97 and a beta of 0.62. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a fifty-two week low of $56.06 and a fifty-two week high of $73.53. The business has a 50-day moving average of $70.29 and a 200-day moving average of $66.32.

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

Coca-Cola Announces Dividend

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

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 102,533 shares of the firm’s 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 completion of the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold a total of 261,870 shares of company stock worth $18,256,369 over the last three months. Corporate insiders own 0.97% of the company’s stock.

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.