Semmax Financial Advisors Inc. Acquires 647 Shares of The Coca-Cola Company (NYSE:KO)

Semmax Financial Advisors Inc. grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 53,096 shares of the company’s stock after acquiring an additional 647 shares during the period. Semmax Financial Advisors Inc.’s holdings in Coca-Cola were worth $3,815,000 as of its most recent SEC filing.

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

Coca-Cola Price Performance

Shares of NYSE KO opened at $64.08 on Friday. The stock has a market cap of $276.04 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 3.89 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 fifty-two week low of $57.47 and a fifty-two week high of $73.53. The firm’s 50-day simple moving average is $67.07 and its 200 day simple moving average is $66.58.

Coca-Cola (NYSE:KO) last posted 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 for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the company earned $0.74 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. As a group, research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.03%. Coca-Cola’s payout ratio is 80.17%.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on KO shares. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Wells Fargo & Company boosted their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley lowered their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus 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.