Jacobsen Capital Management Purchases 303 Shares of The Coca-Cola Company (NYSE:KO)

Jacobsen Capital Management raised its position in shares of The Coca-Cola Company (NYSE:KO) by 5.6% during the third quarter, HoldingsChannel reports. The fund owned 5,698 shares of the company’s stock after acquiring an additional 303 shares during the quarter. Jacobsen Capital Management’s holdings in Coca-Cola were worth $409,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KO. New Millennium Group LLC purchased a new stake in shares of Coca-Cola during the second quarter valued at about $26,000. Quarry LP purchased a new position in shares of Coca-Cola in the 2nd quarter valued at approximately $27,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola in the 1st quarter valued at approximately $28,000. Redmont Wealth Advisors LLC purchased a new position in Coca-Cola during the 1st quarter worth approximately $28,000. Finally, DiNuzzo Private Wealth Inc. raised its position in Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after buying an additional 206 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Coca-Cola news, CEO James Quincey sold 42,397 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. 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. Also, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,398,603.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 319,005 shares of company stock worth $22,198,147. 0.97% of the stock is owned by company insiders.

Analyst Ratings Changes

KO has been the topic of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. raised their price objective on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Citigroup lifted their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

Coca-Cola Stock Performance

Coca-Cola stock opened at $65.59 on Wednesday. The stock’s 50 day moving average price is $70.54 and its 200 day moving average price is $66.22. The firm has a market capitalization of $282.54 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 3.91 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The Coca-Cola Company has a one year low of $55.42 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the business earned $0.74 EPS. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 2.96%. Coca-Cola’s payout ratio is currently 77.60%.

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.