Brooklyn Investment Group Increases Stake in The Coca-Cola Company (NYSE:KO)

Brooklyn Investment Group increased its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 43.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,027 shares of the company's stock after purchasing an additional 10,843 shares during the quarter. Coca-Cola accounts for 0.9% of Brooklyn Investment Group's portfolio, making the stock its 22nd largest position. Brooklyn Investment Group's holdings in Coca-Cola were worth $2,589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in KO. New Millennium Group LLC bought a new position in shares of Coca-Cola in the second quarter worth $26,000. Quarry LP acquired a new stake in shares of Coca-Cola in the second quarter valued at approximately $27,000. Hara Capital LLC acquired a new position in Coca-Cola during the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the 3rd quarter valued at $36,000. Finally, Mount Lucas Management LP purchased a new position in Coca-Cola in the second quarter worth $38,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Up 0.3 %

KO stock traded up $0.20 during trading on Tuesday, reaching $64.58. The stock had a trading volume of 14,461,205 shares, compared to its average volume of 13,564,921. The firm has a fifty day moving average price of $67.63 and a 200 day moving average price of $66.58. The Coca-Cola Company has a 1-year low of $57.47 and a 1-year high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $278.20 billion, a P/E ratio of 26.67, a PEG ratio of 3.88 and a beta of 0.61.

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

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Friday, November 29th. Coca-Cola's dividend payout ratio is currently 80.17%.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction on 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 directly owns 342,546 shares of the company's stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.97% of the stock is owned by company insiders.

Analyst Ratings Changes

KO has been the topic of a number of research analyst reports. Barclays decreased their target price on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Hsbc Global Res raised Coca-Cola to a "strong-buy" rating in a report on Friday, September 27th. Wells Fargo & Company lifted their price target on Coca-Cola from $73.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, September 16th. Finally, Cfra restated a "hold" rating on shares of Coca-Cola in a report on Thursday, September 5th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola has an average rating of "Moderate Buy" and an average price target of $72.36.

Coca-Cola 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.