Holocene Advisors LP Has $207.08 Million Stake in The Coca-Cola Company (NYSE:KO)

Holocene Advisors LP decreased its position in The Coca-Cola Company (NYSE:KO) by 46.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,881,714 shares of the company’s stock after selling 2,454,976 shares during the quarter. Coca-Cola comprises about 0.8% of Holocene Advisors LP’s portfolio, making the stock its 29th largest holding. Holocene Advisors LP’s holdings in Coca-Cola were worth $207,080,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of KO. FMR LLC increased its stake in Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after buying an additional 11,206,995 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Coca-Cola in the third quarter valued at about $269,382,000. Manning & Napier Advisors LLC acquired a new stake in shares of Coca-Cola in the second quarter valued at about $188,448,000. Pathway Financial Advisers LLC raised its holdings in Coca-Cola by 7,006.8% during the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after acquiring an additional 2,443,612 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in Coca-Cola by 39.7% during the third quarter. Fisher Asset Management LLC now owns 6,765,669 shares of the company’s stock valued at $486,181,000 after purchasing an additional 1,921,241 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Barclays lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, Morgan Stanley dropped their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Four equities 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola 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 transaction of $6,403,000.00. Following the transaction, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock opened at $63.97 on Monday. The company has a market capitalization of $275.57 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 3.89 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 12 month low of $57.47 and a 12 month high of $73.53. The stock’s 50 day moving average is $67.07 and its 200-day moving average is $66.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating 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 analyst estimates of $11.61 billion. During the same period in the prior year, the firm posted $0.74 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

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.