Aljian Capital Management LLC Buys Shares of 3,071 The Coca-Cola Company (NYSE:KO)

Aljian Capital Management LLC purchased a new position in The Coca-Cola Company (NYSE:KO) in the third quarter, Holdings Channel reports. The fund purchased 3,071 shares of the company’s stock, valued at approximately $221,000.

Several other institutional investors have also made changes to their positions in the stock. Lake Street Advisors Group LLC increased its position in Coca-Cola by 60.8% in the 1st quarter. Lake Street Advisors Group LLC now owns 26,361 shares of the company’s stock worth $1,626,000 after purchasing an additional 9,968 shares during the last quarter. Ossiam increased its holdings in Coca-Cola by 157.0% in the first quarter. Ossiam now owns 175,804 shares of the company’s stock worth $10,756,000 after buying an additional 107,393 shares during the last quarter. Evermay Wealth Management LLC raised its position in Coca-Cola by 4.0% during the first quarter. Evermay Wealth Management LLC now owns 8,519 shares of the company’s stock valued at $525,000 after acquiring an additional 329 shares in the last quarter. Elgethun Capital Management lifted its stake in Coca-Cola by 7.3% in the first quarter. Elgethun Capital Management now owns 10,485 shares of the company’s stock valued at $638,000 after acquiring an additional 710 shares during the last quarter. Finally, Crewe Advisors LLC bought a new stake in Coca-Cola in the first quarter worth approximately $169,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective 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 target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Citigroup lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. TD Cowen upped their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Barclays dropped 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. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Coca-Cola Stock Up 0.2 %

Shares of Coca-Cola stock opened at $61.85 on Tuesday. The business has a fifty day simple moving average of $68.43 and a 200 day simple moving average of $66.54. The stock has a market cap of $266.44 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 3.75 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 12 month low of $56.96 and a 12 month high of $73.53.

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

Coca-Cola Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.14%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the sale, the executive vice president now directly owns 74,067 shares in the company, valued at approximately $5,150,619.18. The trade was a 35.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was 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 $30,987,070.92. The trade was a 18.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 303,748 shares of company stock worth $20,677,431. 0.97% of the stock is owned by company insiders.

About Coca-Cola

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.