Wexford Capital LP Purchases 3,503 Shares of The Coca-Cola Company (NYSE:KO)

Wexford Capital LP grew its position in The Coca-Cola Company (NYSE:KO) by 33.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,120 shares of the company’s stock after buying an additional 3,503 shares during the period. Wexford Capital LP’s holdings in Coca-Cola were worth $1,015,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harvest Portfolios Group Inc. purchased a new stake in shares of Coca-Cola during the third quarter valued at $18,383,000. Balentine LLC lifted its stake in Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after acquiring an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Coca-Cola by 104.9% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after acquiring an additional 59,503 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after acquiring an additional 46,541 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in shares of Coca-Cola by 4.8% during the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock valued at $32,895,000 after purchasing an additional 21,005 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 1.2 %

KO opened at $62.93 on Friday. The company has a market capitalization of $271.09 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 3.86 and a beta of 0.61. The firm has a 50-day simple moving average of $66.40 and a two-hundred day simple moving average of $66.56. 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 Coca-Cola Company has a 52 week low of $57.47 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. Analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.08%. Coca-Cola’s payout ratio is presently 80.17%.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on KO. Morgan Stanley cut their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Truist Financial upped their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company dropped their target price on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Four 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 company’s stock. According to data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $72.14.

Coca-Cola Company 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.