The Coca-Cola Company (NYSE:KO) Holdings Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in The Coca-Cola Company (NYSE:KO) by 19.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,194,849 shares of the company’s stock after acquiring an additional 364,526 shares during the quarter. Coca-Cola comprises about 0.5% of Zurcher Kantonalbank Zurich Cantonalbank’s investment portfolio, making the stock its 28th biggest holding. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of Coca-Cola worth $157,722,000 at the end of the most recent quarter.

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

Coca-Cola Price Performance

Shares of KO opened at $64.43 on Thursday. 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 has a market cap of $277.55 billion, a PE ratio of 26.62, a PEG ratio of 3.91 and a beta of 0.61. The firm’s 50 day moving average price is $67.34 and its 200 day moving average price is $66.57. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly 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. The business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. As a group, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.01%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Barclays decreased their target price 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, Truist Financial increased 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. 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, Coca-Cola 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.