Capital Square LLC Boosts Holdings in The Coca-Cola Company (NYSE:KO)

Capital Square LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,961 shares of the company’s stock after acquiring an additional 395 shares during the quarter. Capital Square LLC’s holdings in Coca-Cola were worth $644,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of KO. New Millennium Group LLC purchased a new stake in Coca-Cola in the second quarter worth $26,000. Quarry LP bought a new position in shares of Coca-Cola during the 2nd quarter worth $27,000. Hara Capital LLC purchased a new stake in Coca-Cola in the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola during the third quarter valued at about $36,000. Finally, Mount Lucas Management LP bought a new position in Coca-Cola during the second quarter worth about $38,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 value of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, 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. 0.97% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KO. Truist Financial boosted their price target 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. Wells Fargo & Company boosted their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Morgan Stanley dropped their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola Trading Up 1.0 %

Shares of Coca-Cola stock traded up $0.62 during midday trading on Monday, reaching $64.54. 2,016,789 shares of the company’s stock traded hands, compared to its average volume of 13,408,454. 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 50 day moving average of $67.79 and a 200-day moving average of $66.57. The company has a market cap of $278.03 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 3.88 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $57.47 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the previous year, the firm posted $0.74 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business 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 $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

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.