Quest Partners LLC Has $4.37 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Quest Partners LLC boosted its holdings in The Coca-Cola Company (NYSE:KO) by 87.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,799 shares of the company’s stock after acquiring an additional 28,358 shares during the quarter. Coca-Cola accounts for about 0.4% of Quest Partners LLC’s investment portfolio, making the stock its 8th largest position. Quest Partners LLC’s holdings in Coca-Cola were worth $4,369,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Apella Capital LLC increased its holdings in 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 acquiring an additional 146 shares during the last quarter. Investment Advisory Group LLC increased its holdings in shares of Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after purchasing an additional 146 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC increased its holdings in shares of 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 worth $437,000 after purchasing an additional 149 shares during the last quarter. CCG Wealth Management LLC lifted its position in shares of Coca-Cola by 4.3% in 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 in the last quarter. Finally, Investment Partners Asset Management Inc. boosted its stake in Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after buying an additional 150 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Price Performance

Shares of KO stock opened at $61.74 on Monday. The stock has a 50 day moving average price of $68.63 and a 200 day moving average price of $66.54. The Coca-Cola Company has a 52-week low of $56.70 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 firm has a market capitalization of $265.96 billion, a P/E ratio of 25.51, a P/E/G ratio of 3.75 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 earnings per share. 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 business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insider Activity

In other news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,150,619.18. The trade was a 35.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 303,748 shares of company stock valued at $20,677,431. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on KO shares. Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Truist Financial increased 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. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, TD Cowen lifted their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price 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.