Capital Wealth Alliance LLC Makes New Investment in Coca-Cola Co (The) (NYSE:KO)

Capital Wealth Alliance LLC acquired a new position in Coca-Cola Co (The) (NYSE:KO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,872 shares of the company’s stock, valued at approximately $241,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Altium Wealth Management LLC increased its stake in Coca-Cola by 6.4% in the 3rd quarter. Altium Wealth Management LLC now owns 44,959 shares of the company’s stock worth $2,220,000 after acquiring an additional 2,719 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its holdings in shares of Coca-Cola by 5.8% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 5,186 shares of the company’s stock worth $256,000 after purchasing an additional 283 shares during the period. Mayfair Advisory Group LLC purchased a new position in shares of Coca-Cola in the 3rd quarter worth approximately $217,000. Landsberg Bennett & Dubbaneh LLC boosted its holdings in shares of Coca-Cola by 18.6% in the 3rd quarter. Landsberg Bennett & Dubbaneh LLC now owns 19,909 shares of the company’s stock worth $974,000 after purchasing an additional 3,117 shares during the period. Finally, Wells Trecaso Financial Group LLC boosted its holdings in shares of Coca-Cola by 11.7% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 4,427 shares of the company’s stock worth $219,000 after purchasing an additional 463 shares during the period. 65.86% of the stock is currently owned by institutional investors and hedge funds.

KO has been the subject of a number of recent research reports. UBS Group lifted their target price on Coca-Cola from $54.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Zacks Investment Research cut Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 target price for the company. in a report on Tuesday, September 22nd. Morgan Stanley boosted their price objective on Coca-Cola from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. Finally, Bank of America restated a “buy” rating and set a $53.00 price objective on shares of Coca-Cola in a report on Friday, July 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $53.28.

In other Coca-Cola news, SVP Robert Edward Long sold 37,534 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $48.21, for a total transaction of $1,809,514.14. Following the completion of the transaction, the senior vice president now owns 82,502 shares of the company’s stock, valued at $3,977,421.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David B. Weinberg sold 50,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $48.02, for a total value of $2,401,000.00. Following the transaction, the director now directly owns 355,214 shares of the company’s stock, valued at approximately $17,057,376.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,534 shares of company stock worth $6,611,514. Company insiders own 1.01% of the company’s stock.

KO opened at $49.90 on Wednesday. The firm has a market cap of $214.44 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 5.76 and a beta of 0.55. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 1.97. Coca-Cola Co has a 12 month low of $36.27 and a 12 month high of $60.13. The stock has a fifty day moving average price of $49.99 and a 200-day moving average price of $47.58.

Coca-Cola (NYSE:KO) last announced its earnings results on Thursday, October 22nd. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.09. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. The company had revenue of $8.65 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period in the prior year, the company posted $0.56 EPS. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, equities research analysts forecast that Coca-Cola Co will post 1.79 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.41 per share. The ex-dividend date is Monday, November 30th. This represents a $1.64 annualized dividend and a yield of 3.29%. Coca-Cola’s payout ratio is presently 77.73%.

Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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