Carrera Capital Advisors Invests $3.07 Million in The Coca-Cola Company (NYSE:KO)

Carrera Capital Advisors bought a new stake in The Coca-Cola Company (NYSE:KO) during the third quarter, HoldingsChannel reports. The fund bought 42,422 shares of the company’s stock, valued at approximately $3,069,000. Coca-Cola comprises about 0.8% of Carrera Capital Advisors’ portfolio, making the stock its 22nd largest position.

A number of other large investors have also added to or reduced their stakes in the company. New Millennium Group LLC bought a new position in shares of Coca-Cola during the 2nd quarter valued at about $26,000. Quarry LP purchased a new stake in Coca-Cola in the second quarter worth approximately $27,000. ESL Trust Services LLC purchased a new stake in Coca-Cola in the first quarter worth approximately $28,000. Hara Capital LLC bought a new position in Coca-Cola during the third quarter valued at approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the third quarter worth approximately $36,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of recent research reports. Citigroup raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Wells Fargo & Company increased their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley cut 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. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Five equities research 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.80.

Coca-Cola Stock Up 0.2 %

Shares of NYSE:KO traded up $0.13 during midday trading on Tuesday, reaching $63.49. The company’s stock had a trading volume of 4,343,606 shares, compared to its average volume of 13,246,426. 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 firm has a 50 day moving average of $69.37 and a 200-day moving average of $66.52. The firm has a market capitalization of $273.50 billion, a P/E ratio of 26.21, a PEG ratio of 3.88 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $56.60 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last announced 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 net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. On average, research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business 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 dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Insiders Place Their Bets

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 transaction of $6,403,000.00. Following the completion of 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were 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 owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,150,619.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 303,748 shares of company stock valued at $20,677,431. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola 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.