11,100 Shares in The Coca-Cola Company (NYSE:KO) Acquired by Alken Asset Management Ltd

Alken Asset Management Ltd bought a new stake in The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,100 shares of the company’s stock, valued at approximately $689,000. Coca-Cola accounts for about 1.3% of Alken Asset Management Ltd’s portfolio, making the stock its 29th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Quarry LP acquired a new position in Coca-Cola during the second quarter worth $27,000. Hara Capital LLC acquired a new position in Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola during the third quarter worth $36,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Coca-Cola in the third quarter worth about $43,000. Finally, ORG Wealth Partners LLC purchased a new stake in Coca-Cola during the 3rd quarter valued at about $58,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KO. Wells Fargo & Company lowered their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, January 8th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley dropped their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.60.

Coca-Cola Trading Up 0.8 %

Shares of NYSE KO traded up $0.47 during midday trading on Wednesday, hitting $62.51. The stock had a trading volume of 1,592,860 shares, compared to its average volume of 14,666,840. The company has a fifty day moving average price of $62.78 and a 200 day moving average price of $66.47. 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 1-year low of $57.93 and a 1-year high of $73.53. The company has a market capitalization of $269.28 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 3.83 and a beta of 0.61.

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

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

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.