The Coca-Cola Company (NYSE:KO) Shares Acquired by Wrapmanager Inc.

Wrapmanager Inc. lifted its stake in The Coca-Cola Company (NYSE:KO) by 6.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,035 shares of the company’s stock after purchasing an additional 860 shares during the quarter. Wrapmanager Inc.’s holdings in Coca-Cola were worth $1,080,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after acquiring an additional 8,733,326 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in Coca-Cola during the second quarter worth $188,448,000. Pathway Financial Advisers LLC increased its stake 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 during the last quarter. Raymond James & Associates increased its stake in Coca-Cola by 42.6% during the second quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock worth $397,515,000 after acquiring an additional 1,866,348 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in Coca-Cola by 7,792.8% during the third quarter. International Assets Investment Management LLC now owns 1,744,302 shares of the company’s stock worth $125,346,000 after acquiring an additional 1,722,202 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.2 %

Shares of NYSE KO opened at $61.85 on Tuesday. The company has a market capitalization of $266.44 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 3.75 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The business has a 50-day moving average of $68.43 and a two-hundred day moving average of $66.54. The Coca-Cola Company has a 1 year low of $56.96 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (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 company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the business earned $0.74 EPS. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced 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. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated 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 owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value 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 7.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 303,748 shares of company stock worth $20,677,431. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the subject of several research analyst reports. TD Cowen raised their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Citigroup raised their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

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.