The Coca-Cola Company (NYSE:KO) Shares Bought by L.M. Kohn & Company

L.M. Kohn & Company grew its position in The Coca-Cola Company (NYSE:KO) by 15.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,715 shares of the company’s stock after purchasing an additional 2,087 shares during the quarter. L.M. Kohn & Company’s holdings in Coca-Cola were worth $1,129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Coca-Cola by 37.8% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,088,135 shares of the company’s stock worth $221,913,000 after acquiring an additional 846,702 shares during the last quarter. Circle Wealth Management LLC grew its position in Coca-Cola by 5.8% during the 3rd quarter. Circle Wealth Management LLC now owns 6,137 shares of the company’s stock worth $441,000 after purchasing an additional 337 shares during the last quarter. Fred Alger Management LLC increased its stake in Coca-Cola by 2.9% during the 3rd quarter. Fred Alger Management LLC now owns 105,013 shares of the company’s stock valued at $7,546,000 after purchasing an additional 2,935 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of Coca-Cola by 1.3% in the third quarter. Captrust Financial Advisors now owns 2,300,401 shares of the company’s stock worth $165,307,000 after buying an additional 28,664 shares during the last quarter. Finally, Icon Wealth Advisors LLC lifted its stake in shares of Coca-Cola by 4.7% during the third quarter. Icon Wealth Advisors LLC now owns 16,887 shares of the company’s stock worth $1,213,000 after buying an additional 764 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on KO shares. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. 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. Wells Fargo & Company upped their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Barclays reduced their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Four investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Coca-Cola Stock Performance

Shares of KO stock opened at $64.12 on Friday. The Coca-Cola Company has a one year low of $57.47 and a one year high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The firm’s 50 day moving average price is $67.07 and its 200-day moving average price is $66.56. The firm has a market cap of $276.22 billion, a P/E ratio of 26.50, a P/E/G ratio of 3.91 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 earnings per share. As a group, equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.03%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was 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 of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.97% of the stock is currently owned by company insiders.

About Coca-Cola

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.