O Keefe Stevens Advisory Inc. Increases Stock Position in The Coca-Cola Company (NYSE:KO)

O Keefe Stevens Advisory Inc. increased its position in The Coca-Cola Company (NYSE:KO) by 44.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,988 shares of the company’s stock after buying an additional 2,139 shares during the quarter. O Keefe Stevens Advisory Inc.’s holdings in Coca-Cola were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB acquired a new position in shares of Coca-Cola in the 1st quarter valued at about $102,604,000. BDF Gestion purchased a new position in Coca-Cola in the second quarter valued at approximately $7,421,000. Duality Advisers LP lifted its position in Coca-Cola by 191.1% during the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock valued at $6,843,000 after buying an additional 73,434 shares in the last quarter. TD Asset Management Inc grew its stake in Coca-Cola by 0.7% during the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock worth $179,578,000 after buying an additional 20,048 shares during the period. Finally, New Mexico Educational Retirement Board increased its position in shares of Coca-Cola by 11.6% in the first quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock worth $14,013,000 after acquiring an additional 23,500 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on KO shares. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Citigroup increased their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Barclays boosted their price target on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Bank of America increased their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Stock Performance

Shares of KO opened at $69.16 on Wednesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a 12-month low of $52.11 and a 12-month high of $73.53. The business’s fifty day moving average price is $70.40 and its 200 day moving average price is $65.21. The stock has a market capitalization of $297.94 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 EPS. Equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

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 given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling

In other news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 376,096 shares of company stock valued at $25,982,352. 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.