Sugarloaf Wealth Management LLC Reduces Holdings in The Coca-Cola Company (NYSE:KO)

Sugarloaf Wealth Management LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 2.4% in the 3rd quarter, Holdings Channel reports. The firm owned 17,875 shares of the company’s stock after selling 447 shares during the period. Sugarloaf Wealth Management LLC’s holdings in Coca-Cola were worth $1,285,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Apella Capital LLC raised its stake in Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after purchasing an additional 146 shares during the period. Elwood & Goetz Wealth Advisory Group LLC raised its position in shares of Coca-Cola by 2.2% in the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after buying an additional 149 shares during the period. Drive Wealth Management LLC boosted its holdings in Coca-Cola by 1.6% in the second quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock valued at $630,000 after acquiring an additional 151 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in Coca-Cola by 4.4% during the second quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock valued at $231,000 after acquiring an additional 153 shares during the period. Finally, Chapin Davis Inc. increased its stake in Coca-Cola by 1.0% during the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock worth $1,100,000 after acquiring an additional 153 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Up 0.2 %

Shares of NYSE:KO traded up $0.13 during midday trading on Tuesday, reaching $69.14. The company had a trading volume of 2,693,527 shares, compared to its average volume of 13,228,941. The stock has a market capitalization of $297.85 billion, a P/E ratio of 27.61, a PEG ratio of 3.97 and a beta of 0.60. The stock’s fifty day moving average price is $70.40 and its 200-day moving average price is $65.21. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a one year low of $52.11 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same quarter in the prior year, the business posted $0.78 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Truist Financial boosted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Bank of America upped their price target on shares of 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 raised their price objective 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 equities 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.07.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,507,516.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,507,516.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 376,096 shares of company stock worth $25,982,352. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola 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.