Strategy Asset Managers LLC Acquires New Shares in The Coca-Cola Company (NYSE:KO)

Strategy Asset Managers LLC bought a new stake in shares of The Coca-Cola Company (NYSE:KO) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,514 shares of the company’s stock, valued at approximately $324,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. New Millennium Group LLC purchased a new stake in shares of Coca-Cola during the second quarter valued at $26,000. Quarry LP purchased a new stake in shares of Coca-Cola during the 2nd quarter valued at about $27,000. Hara Capital LLC bought a new stake in shares of Coca-Cola in the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the third quarter valued at approximately $36,000. Finally, Mount Lucas Management LP bought a new position in Coca-Cola during the second quarter valued at approximately $38,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.7 %

KO opened at $63.01 on Thursday. The stock has a market cap of $271.43 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 3.75 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The firm’s fifty day moving average is $68.09 and its 200 day moving average is $66.52. The Coca-Cola Company has a fifty-two week low of $57.33 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 earnings per share. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

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 paid a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.08%. Coca-Cola’s payout ratio is 80.17%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents a 7.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 160,881 shares of company stock valued at $10,693,244 in the last three months. 0.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on KO shares. Barclays cut their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft increased their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, Royal Bank of Canada boosted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Four investment 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, the company presently has an average rating of “Moderate Buy” and a consensus 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.