Sanctuary Advisors LLC Has $38.15 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Sanctuary Advisors LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 42.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 530,953 shares of the company’s stock after acquiring an additional 158,309 shares during the period. Sanctuary Advisors LLC’s holdings in Coca-Cola were worth $38,154,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. ORG Partners LLC lifted its stake in Coca-Cola by 2,577.5% in the 2nd quarter. ORG Partners LLC now owns 4,873 shares of the company’s stock valued at $309,000 after acquiring an additional 4,691 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of Coca-Cola by 3.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 119,840 shares of the company’s stock valued at $7,702,000 after purchasing an additional 3,756 shares during the last quarter. Fiduciary Financial Group LLC bought a new stake in shares of Coca-Cola in the second quarter worth $407,000. Assenagon Asset Management S.A. boosted its holdings in Coca-Cola by 26.1% during the second quarter. Assenagon Asset Management S.A. now owns 2,411,004 shares of the company’s stock worth $153,460,000 after purchasing an additional 499,504 shares during the last quarter. Finally, Triad Wealth Partners LLC grew its position in Coca-Cola by 28.7% in the second quarter. Triad Wealth Partners LLC now owns 5,501 shares of the company’s stock valued at $350,000 after purchasing an additional 1,226 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

KO opened at $62.63 on Thursday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The business has a fifty day simple moving average of $65.68 and a 200 day simple moving average of $66.59. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53. The company has a market capitalization of $269.80 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 3.80 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the business posted $0.74 earnings per share. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. Research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.10%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Analysts Set New Price Targets

KO has been the subject of several analyst reports. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Morgan Stanley dropped their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Barclays cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Wells Fargo & Company dropped their price target on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, December 2nd. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.50.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.97% of the stock is owned by company 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.