Duncan Williams Asset Management LLC Invests $340,000 in The Coca-Cola Company (NYSE:KO)

Duncan Williams Asset Management LLC purchased a new position in The Coca-Cola Company (NYSE:KO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,730 shares of the company’s stock, valued at approximately $340,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Millennium Group LLC acquired a new stake in Coca-Cola during the second quarter worth about $26,000. Quarry LP acquired a new stake in Coca-Cola during the second quarter worth about $27,000. Redmont Wealth Advisors LLC acquired a new stake in Coca-Cola during the first quarter worth about $28,000. ESL Trust Services LLC acquired a new stake in Coca-Cola during the first quarter worth about $28,000. Finally, DiNuzzo Private Wealth Inc. increased its position in 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 purchasing an additional 206 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 18,482 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction 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 approximately $15,398,603.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. 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 insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Bank of America lifted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Citigroup lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Finally, Truist Financial lifted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Stock Down 0.7 %

Shares of Coca-Cola stock opened at $70.50 on Friday. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $73.53. The company has a 50 day moving average of $70.29 and a 200 day moving average of $65.02. 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 company has a market capitalization of $303.71 billion, a P/E ratio of 28.20, a P/E/G ratio of 3.97 and a beta of 0.60.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping 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 company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.75%. Coca-Cola’s dividend payout ratio is presently 77.60%.

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.