Prospera Private Wealth LLC Raises Stock Position in The Coca-Cola Company (NYSE:KO)

Prospera Private Wealth LLC raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 336.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,638 shares of the company’s stock after purchasing an additional 39,816 shares during the period. Prospera Private Wealth LLC’s holdings in Coca-Cola were worth $3,711,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New Millennium Group LLC acquired a new stake in Coca-Cola in the 2nd quarter worth about $26,000. Quarry LP acquired a new stake in shares of Coca-Cola in the second quarter worth approximately $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola in the 3rd quarter valued at $36,000. Finally, Mount Lucas Management LP purchased a new position in Coca-Cola in the 2nd quarter valued at $38,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on KO shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Wells Fargo & Company increased their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Citigroup boosted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley cut their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Royal Bank of Canada lifted their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Four 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Insiders Place Their Bets

In related 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 value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 42,397 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 8.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,881 shares of company stock worth $10,693,244 in the last quarter. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $62.58 on Wednesday. The stock has a market capitalization of $269.58 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 3.75 and a beta of 0.61. 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 business has a 50-day moving average of $68.25 and a 200 day moving average of $66.55. The Coca-Cola Company has a 12 month low of $56.96 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS 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 business had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the firm posted $0.74 earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts forecast 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. Investors of record on Friday, November 29th will be paid 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 3.10%. Coca-Cola’s payout ratio is 80.17%.

About Coca-Cola

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.