The Coca-Cola Company (NYSE:KO) Shares Bought by StoneX Group Inc.

StoneX Group Inc. increased its stake in The Coca-Cola Company (NYSE:KO) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,766 shares of the company’s stock after acquiring an additional 292 shares during the period. StoneX Group Inc.’s holdings in Coca-Cola were worth $2,081,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. New Millennium Group LLC purchased a new position in shares of Coca-Cola in the 2nd quarter worth about $26,000. Quarry LP acquired a new stake in Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC purchased a new position in Coca-Cola in the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola during the third quarter valued at approximately $36,000. Finally, Mount Lucas Management LP purchased a new stake in Coca-Cola during the second quarter worth approximately $38,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

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 transaction 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 approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the firm’s 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 sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 160,881 shares of company stock valued at $10,693,244. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.3 %

NYSE KO opened at $63.92 on Friday. The company has a market capitalization of $275.35 billion, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 3.87 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. The Coca-Cola Company has a 12 month low of $57.47 and a 12 month high of $73.53. The company’s fifty day moving average price is $67.79 and its two-hundred day moving average price is $66.54.

Coca-Cola (NYSE:KO) last issued 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 company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 earnings per share. As a group, research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.04%. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KO shares. Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Barclays lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Truist Financial increased their price objective 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. Four 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $72.36.

Coca-Cola Company 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.