Algert Global LLC purchased a new stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 80,697 shares of the company's stock, valued at approximately $5,799,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Legal & General Group Plc increased its stake in shares of Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company's stock valued at $2,463,373,000 after buying an additional 1,084,475 shares during the period. Truist Financial Corp increased its stake in shares of Coca-Cola by 1.1% in the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company's stock valued at $1,041,479,000 after buying an additional 177,241 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Coca-Cola by 1.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company's stock valued at $847,468,000 after buying an additional 222,028 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Coca-Cola by 8.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 8,310,453 shares of the company's stock valued at $532,558,000 after buying an additional 640,402 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Coca-Cola by 7.5% in the 2nd quarter. Bank of Montreal Can now owns 7,765,284 shares of the company's stock valued at $496,202,000 after buying an additional 542,531 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, EVP Nancy Quan sold 18,484 shares of the company's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company's stock, valued at approximately $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. 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 42,397 shares of the company's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The trade was a 8.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,881 shares of company stock valued at $10,693,244 over the last 90 days. 0.97% of the stock is currently owned by insiders.
Coca-Cola Stock Performance
Shares of Coca-Cola stock opened at $63.92 on Friday. The Coca-Cola Company has a one year low of $57.47 and a one year high of $73.53. The firm has a market cap of $275.35 billion, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61. 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 stock's 50-day moving average is $67.79 and its 200-day moving average is $66.54.
Coca-Cola (NYSE:KO - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. Coca-Cola's revenue was down .8% on a year-over-year basis. Equities analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.
Coca-Cola Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Friday, November 29th. Coca-Cola's dividend payout ratio (DPR) is presently 80.17%.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on KO. Barclays decreased their price objective on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Cfra reaffirmed a "hold" rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, Hsbc Global Res raised Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Coca-Cola has an average rating of "Moderate Buy" and a consensus price target of $72.36.
Read Our Latest Stock Report on KO
About Coca-Cola
(
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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