Plato Investment Management Ltd Boosts Stake in The Coca-Cola Company (NYSE:KO)

Plato Investment Management Ltd raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 156,696 shares of the company’s stock after purchasing an additional 1,787 shares during the quarter. Coca-Cola accounts for about 0.9% of Plato Investment Management Ltd’s portfolio, making the stock its 16th largest position. Plato Investment Management Ltd’s holdings in Coca-Cola were worth $11,249,000 at the end of the most recent quarter.

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

Insider Activity

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

Coca-Cola Stock Down 0.3 %

Shares of KO stock opened at $63.02 on Thursday. The stock’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 1-year low of $56.70 and a 1-year high of $73.53. The company has a market cap of $271.48 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 3.84 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for 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 was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 earnings per share. On average, research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed 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 3.08%. Coca-Cola’s payout ratio is currently 80.17%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KO. Barclays lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Morgan Stanley cut their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently 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.