QRG Capital Management Inc. Raises Position in The Coca-Cola Company (NYSE:KO)

QRG Capital Management Inc. boosted its stake in The Coca-Cola Company (NYSE:KO) by 5.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 375,266 shares of the company’s stock after buying an additional 17,828 shares during the quarter. QRG Capital Management Inc.’s holdings in Coca-Cola were worth $26,967,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Millennium Group LLC purchased a new position in Coca-Cola in the 2nd quarter worth approximately $26,000. Quarry LP purchased a new position in Coca-Cola in the 2nd quarter worth approximately $27,000. ESL Trust Services LLC purchased a new position in Coca-Cola in the 1st quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola in the 3rd quarter worth approximately $36,000. Finally, DiNuzzo Private Wealth Inc. lifted its stake in Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Trading Up 0.3 %

Coca-Cola stock traded up $0.21 during trading on Monday, hitting $65.22. The company had a trading volume of 1,117,389 shares, compared to its average volume of 13,199,576. The Coca-Cola Company has a 1-year low of $56.06 and a 1-year high of $73.53. 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 company’s 50 day simple moving average is $70.29 and its 200-day simple moving average is $66.37. The stock has a market cap of $280.95 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 3.97 and a beta of 0.62.

Coca-Cola (NYSE:KO) last posted 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 during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.74 earnings per share. As a group, analysts expect that The Coca-Cola Company will post 2.85 EPS 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 2.97%. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on KO shares. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Truist Financial lifted 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. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. TD Cowen lifted 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. Finally, Morgan Stanley reduced their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business’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 completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the transaction, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,074,330.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 261,870 shares of company stock worth $18,256,369 over the last 90 days. Corporate insiders own 0.97% of the company’s stock.

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.