USA Financial Formulas Invests $1.35 Million in The Coca-Cola Company (NYSE:KO)

USA Financial Formulas acquired a new stake in The Coca-Cola Company (NYSE:KO) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 18,737 shares of the company’s stock, valued at approximately $1,346,000.

Other large investors have also recently bought and sold shares of the company. New Millennium Group LLC bought a new stake in shares of Coca-Cola during the 2nd quarter worth $26,000. Quarry LP acquired a new stake in shares of Coca-Cola in the second quarter valued at about $27,000. Redmont Wealth Advisors LLC bought a new position in shares of Coca-Cola in the first quarter worth about $28,000. ESL Trust Services LLC acquired a new position in shares of Coca-Cola during the 1st quarter worth about $28,000. Finally, DiNuzzo Private Wealth Inc. lifted its position in shares of Coca-Cola by 65.0% during the 1st 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.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Truist Financial lifted their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Morgan Stanley boosted their price target on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Barclays boosted their price objective on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Trading Up 0.5 %

Shares of KO opened at $69.56 on Thursday. The stock has a fifty day moving average price of $70.48 and a two-hundred day moving average price of $65.30. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The Coca-Cola Company has a 52-week low of $52.43 and a 52-week high of $73.53. The company has a market cap of $299.66 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.97 and a beta of 0.60.

Coca-Cola (NYSE:KO) last announced its 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 for the quarter, compared to analyst estimates of $11.78 billion. During the same period in the prior year, the business earned $0.78 earnings per share. Coca-Cola’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 0.00 % 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 102,533 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 376,096 shares of company stock valued at $25,982,352. 0.97% of the stock is currently 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.