Grimes & Company Inc. Has $1.62 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Grimes & Company Inc. raised its stake in The Coca-Cola Company (NYSE:KO) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,471 shares of the company’s stock after acquiring an additional 1,130 shares during the quarter. Grimes & Company Inc.’s holdings in Coca-Cola were worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of KO. New Millennium Group LLC acquired a new position in shares of Coca-Cola during the second quarter worth approximately $26,000. Quarry LP acquired a new position in shares of Coca-Cola during the second quarter worth approximately $27,000. Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola during the first quarter worth approximately $28,000. ESL Trust Services LLC bought a new stake in shares of Coca-Cola during the first quarter worth approximately $28,000. Finally, DiNuzzo Private Wealth Inc. raised its stake in shares of Coca-Cola by 65.0% during the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after buying an additional 206 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on KO. Bank of America boosted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Citigroup boosted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.87.

Coca-Cola Stock Down 1.0 %

Shares of KO stock opened at $67.30 on Friday. The firm has a fifty day moving average of $70.74 and a 200-day moving average of $65.96. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 12-month low of $55.10 and a 12-month high of $73.53. The company has a market capitalization of $289.93 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. As a group, equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.88%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling

In related news, EVP Lisa Chang sold 58,122 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the transaction, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,074,330.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lisa Chang sold 58,122 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,074,330.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 319,005 shares of company stock worth $22,198,147. 0.97% of the stock is owned by insiders.

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.