Decatur Capital Management Inc. purchased a new position in The Coca-Cola Company (NYSE:KO - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 47,247 shares of the company's stock, valued at approximately $3,395,000. Coca-Cola makes up about 1.6% of Decatur Capital Management Inc.'s portfolio, making the stock its 16th biggest holding.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. New Millennium Group LLC acquired a new stake in Coca-Cola during the second quarter worth about $26,000. Quarry LP acquired a new position in shares of Coca-Cola during the second quarter valued at approximately $27,000. Hara Capital LLC bought a new stake in shares of Coca-Cola in the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the 3rd quarter valued at about $36,000. Finally, Mount Lucas Management LP bought a new stake in Coca-Cola during the second quarter worth approximately $38,000. Institutional investors own 70.26% of the company's stock.
Coca-Cola Price Performance
Shares of KO stock traded down $0.72 during trading hours on Friday, reaching $63.12. 12,591,360 shares of the company were exchanged, compared to its average volume of 13,845,163. The stock's fifty day moving average is $65.55 and its two-hundred day moving average is $66.57. The company has a market cap of $271.91 billion, a price-to-earnings ratio of 26.25, a P/E/G ratio of 3.81 and a beta of 0.61. The Coca-Cola Company has a fifty-two week low of $57.47 and a fifty-two week high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.
Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly 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 period in the previous year, the firm posted $0.74 earnings per share. Coca-Cola's revenue for the quarter was down .8% compared to the same quarter last year. Sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.
Coca-Cola Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Friday, November 29th. Coca-Cola's dividend payout ratio is currently 80.17%.
Analyst Ratings Changes
Several analysts have issued reports on KO shares. Cfra restated a "hold" rating on shares of Coca-Cola in a report on Thursday, September 5th. Hsbc Global Res raised shares of Coca-Cola to a "strong-buy" rating in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a "hold" rating to a "buy" rating and increased their price objective for the company from $68.00 to $70.00 in a research report on Thursday. Wells Fargo & Company reduced their price objective on Coca-Cola from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, December 2nd. Finally, Morgan Stanley lowered their target price on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $72.50.
Check Out Our Latest Analysis on KO
Insider Activity
In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares of the company's stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.97% of the stock is owned by company insiders.
Coca-Cola Company Profile
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Free Report)
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.
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