Plato Investment Management Ltd Grows Position in The Coca-Cola Company (NYSE:KO)

Plato Investment Management Ltd boosted its holdings in The Coca-Cola Company (NYSE:KO) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 156,696 shares of the company’s stock after buying an additional 1,787 shares during the quarter. Coca-Cola accounts for approximately 0.9% of Plato Investment Management Ltd’s holdings, making the stock its 16th biggest position. Plato Investment Management Ltd’s holdings in Coca-Cola were worth $11,249,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Millennium Group LLC purchased a new position in shares of Coca-Cola in the 2nd quarter worth $26,000. Quarry LP purchased a new position in Coca-Cola in the second quarter worth about $27,000. ESL Trust Services LLC bought a new stake in shares of Coca-Cola during the 1st quarter valued at about $28,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the 3rd quarter valued at about $35,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola in the 3rd quarter worth approximately $36,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

KO stock opened at $63.02 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 company’s fifty day moving average price is $69.18 and its 200-day moving average price is $66.53. The Coca-Cola Company has a one year low of $56.70 and a one year high of $73.53. The company has a market capitalization of $271.48 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 3.84 and a beta of 0.61.

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

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insiders Place Their Bets

In related news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 303,748 shares of company stock valued at $20,677,431 in the last quarter. 0.97% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada upped their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. TD Cowen upped their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, Citigroup raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.