Quarry LP acquired a new position in The Coca-Cola Company (NYSE:KO – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 418 shares of the company’s stock, valued at approximately $27,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in KO. New Millennium Group LLC purchased a new stake in shares of Coca-Cola in the second quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Coca-Cola during the first quarter valued at approximately $28,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola in the 1st quarter valued at $28,000. DiNuzzo Private Wealth Inc. grew its stake in Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares during the last quarter. Finally, Mount Lucas Management LP bought a new position in shares of Coca-Cola during the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.
Coca-Cola Stock Down 1.7 %
Shares of KO opened at $69.01 on Tuesday. The Coca-Cola Company has a one year low of $52.11 and a one year high of $73.53. The stock has a market capitalization of $297.29 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 3.97 and a beta of 0.60. The stock has a 50 day moving average price of $70.35 and a 200 day moving average price of $65.15. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.
Coca-Cola Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.485 per share. The ex-dividend date was Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.81%. Coca-Cola’s dividend payout ratio is presently 77.60%.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Citigroup raised their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Truist Financial increased their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, Wells Fargo & Company raised their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Five equities research 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 stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $71.07.
Read Our Latest Analysis on KO
Insiders Place Their Bets
In other news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,507,516.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,507,516.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 376,096 shares of company stock valued at $25,982,352 over the last ninety days. Company insiders own 0.97% of the company’s stock.
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.
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