Capital Square LLC Increases Holdings in The Coca-Cola Company (NYSE:KO)

Capital Square LLC lifted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 4.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,961 shares of the company’s stock after purchasing an additional 395 shares during the quarter. Capital Square LLC’s holdings in Coca-Cola were worth $644,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. New Millennium Group LLC acquired a new stake in shares of Coca-Cola during the 2nd quarter worth about $26,000. Quarry LP acquired a new position in shares of Coca-Cola in the second quarter valued at approximately $27,000. Hara Capital LLC purchased a new position in Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola in the 3rd quarter valued at about $36,000. Finally, Mount Lucas Management LP purchased a new position in shares of Coca-Cola in the second quarter valued at $38,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

KO traded up $0.62 during midday trading on Monday, hitting $64.54. The company had a trading volume of 2,016,789 shares, compared to its average volume of 13,408,454. The company has a market capitalization of $278.03 billion, a PE ratio of 26.41, a P/E/G ratio of 3.88 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 Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The firm’s 50-day simple moving average is $67.79 and its 200-day simple moving average is $66.57.

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

Coca-Cola Dividend Announcement

The firm also recently disclosed 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. This represents a $1.94 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Insider Transactions at Coca-Cola

In other 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 completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on KO. Wells Fargo & Company raised their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley reduced their price objective 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. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Barclays reduced their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Four equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus 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.