The Coca-Cola Company (NYSE:KO) Shares Purchased by Fred Alger Management LLC

Fred Alger Management LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,013 shares of the company’s stock after purchasing an additional 2,935 shares during the quarter. Fred Alger Management LLC’s holdings in Coca-Cola were worth $7,546,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. New Millennium Group LLC acquired a new position in shares of Coca-Cola during the second quarter worth $26,000. Quarry LP acquired a new position in shares of Coca-Cola during the 2nd quarter worth about $27,000. Hara Capital LLC purchased a new position in shares of Coca-Cola in the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola during the 3rd quarter worth about $36,000. Finally, Mount Lucas Management LP purchased a new stake in Coca-Cola during the second quarter worth approximately $38,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.2 %

NYSE:KO opened at $64.08 on Friday. 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 stock’s 50 day simple moving average is $67.07 and its 200-day simple moving average is $66.58. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53. The firm has a market cap of $276.04 billion, a P/E ratio of 26.48, a PEG ratio of 3.91 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The company 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%. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. Equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.03%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on KO shares. Morgan Stanley cut their price objective 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. Barclays cut their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note 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 reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price 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.