The Coca-Cola Company (NYSE:KO) Stake Increased by Intelligence Driven Advisers LLC

Intelligence Driven Advisers LLC raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 26.1% during the third quarter, HoldingsChannel reports. The fund owned 4,755 shares of the company’s stock after acquiring an additional 983 shares during the quarter. Intelligence Driven Advisers LLC’s holdings in Coca-Cola were worth $342,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC acquired a new position in shares of Coca-Cola in the 2nd quarter worth approximately $26,000. Quarry LP bought a new stake in Coca-Cola during the second quarter valued at $27,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola during the first quarter worth $28,000. Hara Capital LLC acquired a new position in shares of Coca-Cola in the 3rd quarter valued at about $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the third quarter worth $36,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Down 0.5 %

Shares of KO traded down $0.29 during trading hours on Thursday, reaching $62.71. The company’s stock had a trading volume of 2,265,480 shares, compared to its average volume of 13,241,608. The company has a 50 day moving average of $68.99 and a two-hundred day moving average of $66.51. 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 firm has a market cap of $270.14 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 3.84 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $56.70 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the business earned $0.74 EPS. The company’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, research analysts predict that The Coca-Cola Company will post 2.85 EPS 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. Investors of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Insider Buying and Selling at Coca-Cola

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 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction dated 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 $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. 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 worth $20,677,431 over the last 90 days. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of several recent research reports. Citigroup upped their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.36.

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.