Apollon Wealth Management LLC Has $7.52 Million Holdings in The Coca-Cola Company (NYSE:KO)

Apollon Wealth Management LLC lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.9% during the third quarter, HoldingsChannel.com reports. The firm owned 104,683 shares of the company’s stock after selling 906 shares during the quarter. Apollon Wealth Management LLC’s holdings in Coca-Cola were worth $7,523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in KO. William Blair Investment Management LLC grew its position in shares of Coca-Cola by 17.8% during the 1st quarter. William Blair Investment Management LLC now owns 207,956 shares of the company’s stock worth $12,723,000 after purchasing an additional 31,397 shares in the last quarter. Koshinski Asset Management Inc. boosted its position in shares of Coca-Cola by 4.6% during the 1st quarter. Koshinski Asset Management Inc. now owns 27,953 shares of the company’s stock worth $1,710,000 after acquiring an additional 1,242 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Coca-Cola by 0.7% during the 1st quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock worth $179,578,000 after acquiring an additional 20,048 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Coca-Cola by 3.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 4,343,558 shares of the company’s stock worth $269,431,000 after acquiring an additional 138,392 shares in the last quarter. Finally, Angeles Wealth Management LLC boosted its position in shares of Coca-Cola by 2.4% during the 1st quarter. Angeles Wealth Management LLC now owns 11,149 shares of the company’s stock worth $682,000 after acquiring an additional 265 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Citigroup increased their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company increased their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley dropped their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Royal Bank of Canada increased their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

Insider Buying and Selling

In related news, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,150,619.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This trade 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 hyperlink. Also, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,150,619.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 203,748 shares of company stock valued at $14,274,431 over the last quarter. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO opened at $63.37 on Tuesday. The Coca-Cola Company has a twelve month low of $56.60 and a twelve month high of $73.53. The firm has a fifty day simple moving average of $69.56 and a 200 day simple moving average of $66.51. The company has a market capitalization of $272.99 billion, a PE ratio of 26.19, a P/E/G ratio of 3.88 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping 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 business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the firm earned $0.74 earnings per share. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

About Coca-Cola

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.