Gateway Advisory LLC Has $4.27 Million Holdings in The Coca-Cola Company (NYSE:KO)

Gateway Advisory LLC raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 70,971 shares of the company’s stock after acquiring an additional 1,154 shares during the period. Coca-Cola makes up 0.9% of Gateway Advisory LLC’s holdings, making the stock its 23rd largest position. Gateway Advisory LLC’s holdings in Coca-Cola were worth $4,274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Morgan Stanley grew its holdings in shares of Coca-Cola by 15.7% in the 4th quarter. Morgan Stanley now owns 79,101,856 shares of the company’s stock valued at $5,031,669,000 after buying an additional 10,722,435 shares during the period. Geode Capital Management LLC raised its stake in Coca-Cola by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 76,982,020 shares of the company’s stock worth $4,764,721,000 after buying an additional 1,087,974 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Coca-Cola by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 60,636,577 shares of the company’s stock worth $3,728,653,000 after acquiring an additional 2,546,489 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in Coca-Cola by 103,297.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock valued at $3,672,479,000 after acquiring an additional 57,678,466 shares during the period. Finally, Norges Bank bought a new stake in shares of Coca-Cola in the fourth quarter worth about $2,937,315,000. Institutional investors own 68.96% of the company’s stock.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 92,029 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $53.86, for a total transaction of $4,956,681.94. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $23,835,527.56. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Coca-Cola news, SVP Beatriz R. Perez sold 20,534 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $56.12, for a total transaction of $1,152,368.08. Following the transaction, the senior vice president now owns 143,383 shares in the company, valued at approximately $8,046,653.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Quincey sold 92,029 shares of the stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $53.86, for a total value of $4,956,681.94. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $23,835,527.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 204,592 shares of company stock valued at $11,455,015. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Coca-Cola from $69.00 to $70.00 in a report on Thursday, July 27th. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $59.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, October 25th. Barclays cut their price objective on shares of Coca-Cola from $70.00 to $59.00 and set an “overweight” rating on the stock in a research report on Thursday, October 12th. Morgan Stanley cut their price objective on shares of Coca-Cola from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 25th. Finally, StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.20.

Coca-Cola Stock Up 0.2 %

NYSE KO traded up $0.11 during trading hours on Friday, hitting $57.26. 14,476,629 shares of the company traded hands, compared to its average volume of 13,593,826. The business’s 50-day moving average is $56.02 and its 200-day moving average is $59.33. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.99. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.97 and a current ratio of 1.14. The stock has a market capitalization of $247.56 billion, a price-to-earnings ratio of 23.00, a P/E/G ratio of 3.46 and a beta of 0.59.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Coca-Cola had a return on equity of 42.44% and a net margin of 23.92%. The firm had revenue of $11.95 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Sell-side analysts anticipate that The Coca-Cola Company will post 2.68 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Thursday, November 30th. Coca-Cola’s dividend payout ratio (DPR) is currently 73.90%.

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.