Point72 Hong Kong Ltd Buys 123,278 Shares of The Coca-Cola Company (NYSE:KO)

Point72 Hong Kong Ltd increased its position in The Coca-Cola Company (NYSE:KO) by 151.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 204,773 shares of the company’s stock after buying an additional 123,278 shares during the quarter. Coca-Cola makes up about 1.0% of Point72 Hong Kong Ltd’s holdings, making the stock its 27th largest holding. Point72 Hong Kong Ltd’s holdings in Coca-Cola were worth $14,715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FSA Wealth Management LLC purchased a new stake in shares of Coca-Cola in the third quarter worth $444,000. Erste Asset Management GmbH bought a new position in Coca-Cola in the 3rd quarter worth $20,078,000. Socorro Asset Management LP increased its stake in Coca-Cola by 0.3% in the 3rd quarter. Socorro Asset Management LP now owns 142,109 shares of the company’s stock worth $10,212,000 after buying an additional 367 shares in the last quarter. Plotkin Financial Advisors LLC bought a new stake in Coca-Cola during the third quarter valued at about $572,000. Finally, Semmax Financial Advisors Inc. lifted its position in shares of Coca-Cola by 1.2% in the third quarter. Semmax Financial Advisors Inc. now owns 53,096 shares of the company’s stock valued at $3,815,000 after acquiring an additional 647 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Truist Financial lifted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Morgan Stanley cut 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. Finally, Barclays decreased their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Trading Up 0.2 %

Shares of NYSE KO opened at $64.08 on Friday. The Coca-Cola Company has a 1-year low of $57.47 and a 1-year high of $73.53. 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 business’s 50 day moving average is $67.07 and its two-hundred day moving average is $66.58. The stock has a market capitalization of $276.04 billion, a P/E ratio of 26.48, a PEG ratio of 3.89 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate 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 for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. As a group, research analysts expect 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. Stockholders of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.03%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was 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 approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.97% of the stock is owned by corporate 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.