Coca-Cola Company (The) $KO Stock Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. decreased its position in shares of Coca-Cola Company (The) (NYSE:KO) by 24.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,241 shares of the company’s stock after selling 10,884 shares during the period. Confluence Wealth Services Inc.’s holdings in Coca-Cola were worth $2,861,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KO. Garrett Wealth Advisory Group LLC raised its stake in shares of Coca-Cola by 1.7% during the 3rd quarter. Garrett Wealth Advisory Group LLC now owns 6,274 shares of the company’s stock worth $540,000 after purchasing an additional 107 shares in the last quarter. Certified Advisory Corp lifted its holdings in shares of Coca-Cola by 0.3% during the 3rd quarter. Certified Advisory Corp now owns 33,711 shares of the company’s stock valued at $2,902,000 after buying an additional 108 shares during the last quarter. Lantern Wealth Advisors LLC grew its stake in shares of Coca-Cola by 3.6% in the 2nd quarter. Lantern Wealth Advisors LLC now owns 3,316 shares of the company’s stock valued at $270,000 after buying an additional 115 shares in the last quarter. New Wave Wealth Advisors LLC grew its stake in shares of Coca-Cola by 4.4% in the 3rd quarter. New Wave Wealth Advisors LLC now owns 2,747 shares of the company’s stock valued at $248,000 after buying an additional 116 shares in the last quarter. Finally, Gill Capital Partners LLC grew its stake in shares of Coca-Cola by 4.1% in the 2nd quarter. Gill Capital Partners LLC now owns 2,992 shares of the company’s stock valued at $243,000 after buying an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.9%

KO opened at $96.94 on Wednesday. The firm has a market cap of $417.01 billion, a P/E ratio of 28.51, a price-to-earnings-growth ratio of 3.75 and a beta of 0.28. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.19 and a current ratio of 1.38. The business has a 50 day moving average price of $90.25 and a 200 day moving average price of $82.93. Coca-Cola Company has a twelve month low of $67.27 and a twelve month high of $97.39.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Coca-Cola had a net margin of 28.65% and a return on equity of 38.79%. The company had revenue of $13.35 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same quarter last year, the firm posted $0.82 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts forecast that Coca-Cola Company will post 3.34 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Coca-Cola’s payout ratio is currently 62.35%.

Analysts Set New Price Targets

Several brokerages recently weighed in on KO. TD Cowen raised their price objective on shares of Coca-Cola from $100.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. HSBC lifted their target price on shares of Coca-Cola from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola from $95.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Coca-Cola from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Bank of America upped their price objective on shares of Coca-Cola from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $97.26.

Coca-Cola News Roundup

Here are the key news stories impacting Coca-Cola this week:

• Positive Sentiment: Coca-Cola’s push into functional beverages is gaining traction, with fairlife, Powerade and smartwater growth, alongside innovation and capacity expansion, offering potential avenues for growth. Can Coca-Cola Benefit From Rising Demand for Functional Drinks?
• Positive Sentiment: Several articles emphasize KO’s durable brands and its 64-year record of dividend increases, reinforcing its appeal to long-term income investors. One report also notes Berkshire Hathaway receives about $848 million annually in dividends from its Coca-Cola investment. Coca-Cola’s Dividend Has Grown 64 Years in a Row Warren Buffett’s Coca-Cola Investment
• Neutral Sentiment: Coca-Cola India is advancing draft papers for an IPO. The report does not specify how the offering could affect KO financially. Coca-Cola India IPO moves forward with draft papers
• Neutral Sentiment: EVP Nancy Quan sold shares to cover tax withholding on vested equity awards and retained a substantial stake, making the transaction less informative as a signal about her outlook. Coca-Cola EVP Nancy Quan Sells Shares
• Negative Sentiment: Some commentary cautions that KO’s share-price gains have outpaced revisions to its earnings outlook, raising valuation concerns. Higher real Treasury yields and competing bond yields could also make dividend stocks less attractive to some investors. Coca-Cola Stock Keeps Setting Records Treasuries Now Offer 2.66% Above Inflation

Insider Buying and Selling

In related news, insider Bruno Pietracci sold 111,365 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $90.93, for a total transaction of $10,126,419.45. Following the completion of the sale, the insider owned 41,365 shares in the company, valued at $3,761,319.45. This represents a 72.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Beatriz Perez sold 67,548 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $94.91, for a total value of $6,410,980.68. Following the completion of the sale, the executive vice president directly owned 160,428 shares in the company, valued at $15,226,221.48. This trade represents a 29.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 249,498 shares of company stock valued at $23,025,238. Insiders own 0.90% of the company’s stock.

Coca-Cola Profile

The Coca-Cola Company (NYSE: KO) is a global beverage company headquartered in Atlanta, Georgia. Founded in 1886, it is best known for Coca-Cola, one of the world’s most recognized soft drink brands. The company owns, licenses, and markets a broad portfolio of beverages, including sparkling soft drinks, water, sports drinks, coffee, tea, juice, dairy and plant-based beverages, and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, Dasani, smartwater, Powerade, Minute Maid, Simply, fairlife, and Costa Coffee, among others.