Vinva Investment Management Ltd Has $13.59 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Vinva Investment Management Ltd lifted its holdings in The Coca-Cola Company (NYSE:KO) by 15.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 189,235 shares of the company’s stock after acquiring an additional 25,922 shares during the period. Coca-Cola makes up approximately 0.6% of Vinva Investment Management Ltd’s investment portfolio, making the stock its 29th largest position. Vinva Investment Management Ltd’s holdings in Coca-Cola were worth $13,585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of KO. Harvest Portfolios Group Inc. acquired a new stake in shares of Coca-Cola during the 3rd quarter worth $18,383,000. Balentine LLC lifted its position in Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after purchasing an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC grew its stake in Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after buying an additional 59,503 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Coca-Cola by 5.8% in the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock valued at $61,122,000 after buying an additional 46,541 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Coca-Cola by 4.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock valued at $32,895,000 after buying an additional 21,005 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the subject of several research analyst reports. Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company increased their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Finally, Morgan Stanley lowered their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Four equities 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. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $72.36.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO opened at $64.43 on Thursday. The company has a market capitalization of $277.55 billion, a P/E ratio of 26.62, a P/E/G ratio of 3.91 and a beta of 0.61. The business has a fifty day simple moving average of $67.34 and a two-hundred day simple moving average of $66.57. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.01%. Coca-Cola’s dividend payout ratio is currently 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.