Kerusso Capital Management LLC Buys 2,088 Shares of The Coca-Cola Company (NYSE:KO)

Kerusso Capital Management LLC lifted its position in The Coca-Cola Company (NYSE:KO) by 6.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 34,539 shares of the company’s stock after purchasing an additional 2,088 shares during the period. Kerusso Capital Management LLC’s holdings in Coca-Cola were worth $2,482,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KO. Oxbow Advisors LLC grew its position in shares of Coca-Cola by 1.2% in the 3rd quarter. Oxbow Advisors LLC now owns 80,003 shares of the company’s stock worth $5,749,000 after buying an additional 981 shares during the last quarter. Cypress Point Wealth Management LLC lifted its holdings in Coca-Cola by 2.9% in the third quarter. Cypress Point Wealth Management LLC now owns 14,134 shares of the company’s stock worth $1,016,000 after buying an additional 403 shares during the period. Objective Capital Management LLC purchased a new position in shares of Coca-Cola during the 3rd quarter worth approximately $399,000. 5th Street Advisors LLC purchased a new position in Coca-Cola during the third quarter valued at $259,000. Finally, Bridges Investment Management Inc. grew its holdings in Coca-Cola by 1.6% in the third quarter. Bridges Investment Management Inc. now owns 54,156 shares of the company’s stock worth $3,892,000 after purchasing an additional 867 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the 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 owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $1,321,606.00. Following 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 this link. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 203,748 shares of company stock valued at $14,274,431 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

NYSE:KO traded up $0.26 during trading hours on Friday, hitting $63.92. 14,719,308 shares of the stock traded hands, compared to its average volume of 13,338,074. The stock has a 50 day moving average price of $69.56 and a 200 day moving average price of $66.44. 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 company has a market cap of $275.35 billion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $56.06 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share 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 during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.04%. Coca-Cola’s payout ratio is 80.17%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KO. Morgan Stanley cut their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Royal Bank of Canada increased their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average price target of $71.80.

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.