51,912 Shares in The Coca-Cola Company (NYSE:KO) Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in shares of The Coca-Cola Company (NYSE:KO) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 51,912 shares of the company’s stock, valued at approximately $3,730,000.

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

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 0.6 %

NYSE:KO opened at $62.53 on Monday. 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 stock has a market capitalization of $269.37 billion, a P/E ratio of 25.84, a P/E/G ratio of 3.80 and a beta of 0.61. The company’s 50-day simple moving average is $66.21 and its 200-day simple moving average is $66.61. The Coca-Cola Company has a fifty-two week low of $57.47 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly 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. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period in the previous year, the company earned $0.74 earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 3.10%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on KO shares. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Barclays dropped their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Wells Fargo & Company dropped their price target on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, December 2nd. Finally, Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Four 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $72.14.

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.