Second Line Capital LLC Grows Stake in The Coca-Cola Company (NYSE:KO)

Second Line Capital LLC raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 14.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,957 shares of the company’s stock after purchasing an additional 1,147 shares during the period. Second Line Capital LLC’s holdings in Coca-Cola were worth $648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of KO. New Millennium Group LLC bought a new stake in Coca-Cola in the second quarter worth $26,000. Quarry LP bought a new stake in shares of Coca-Cola in the 2nd quarter worth about $27,000. Hara Capital LLC purchased a new position in shares of Coca-Cola during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola during the 3rd quarter valued at about $36,000. Finally, Mount Lucas Management LP purchased a new stake in Coca-Cola in the 2nd quarter worth about $38,000. 70.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KO has been the subject of several recent analyst reports. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Barclays cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley cut their price target 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, Hsbc Global Res raised 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 given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.14.

Coca-Cola Trading Up 0.5 %

KO opened at $62.94 on Wednesday. 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 firm has a market cap of $271.11 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 3.80 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $57.47 and a 12 month high of $73.53. The stock has a fifty day moving average price of $66.03 and a 200-day moving average price of $66.61.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS 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 during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the company posted $0.74 earnings per share. The firm’s revenue was down .8% on a year-over-year basis. As a group, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insider Transactions at Coca-Cola

In other Coca-Cola 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 transaction 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 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.97% of the company’s stock.

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.