Hilton Capital Management LLC Acquires 2,536 Shares of The Coca-Cola Company (NYSE:KO)

Hilton Capital Management LLC grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,198 shares of the company’s stock after purchasing an additional 2,536 shares during the quarter. Coca-Cola makes up 1.0% of Hilton Capital Management LLC’s investment portfolio, making the stock its 28th largest holding. Hilton Capital Management LLC’s holdings in Coca-Cola were worth $12,949,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, EVP Nancy Quan sold 18,484 shares of the firm’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 transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 160,881 shares of company stock worth $10,693,244. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $62.58 on Wednesday. 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 business has a 50 day moving average of $68.25 and a 200 day moving average of $66.55. The company has a market cap of $269.58 billion, a PE ratio of 25.86, a P/E/G ratio of 3.75 and a beta of 0.61. The Coca-Cola Company has a 52 week low of $56.96 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data 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 analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

Analyst Upgrades and Downgrades

KO has been the subject of several analyst reports. Morgan Stanley cut their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. TD Cowen boosted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Truist Financial lifted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Four research 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’s stock. Based on data from MarketBeat, the company currently has a consensus 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.