The Coca-Cola Company (NYSE:KO) Stock Position Boosted by Biglari Sardar

Biglari Sardar raised its holdings in The Coca-Cola Company (NYSE:KO) by 3.8% during the third quarter, Holdings Channel reports. The institutional investor owned 106,634 shares of the company’s stock after buying an additional 3,931 shares during the period. Coca-Cola makes up about 16.3% of Biglari Sardar’s holdings, making the stock its 2nd largest position. Biglari Sardar’s holdings in Coca-Cola were worth $7,663,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of KO. New Millennium Group LLC purchased a new position in shares of Coca-Cola in the 2nd quarter valued at $26,000. Quarry LP purchased a new position in shares of Coca-Cola during the second quarter worth about $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola during the third quarter worth about $36,000. Finally, Mount Lucas Management LP purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at about $38,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the stock in a transaction on 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the topic of several research analyst reports. Barclays cut their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Truist Financial increased their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley dropped their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company increased their target price 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. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola Stock Down 0.5 %

Shares of NYSE KO opened at $64.08 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The firm has a 50-day moving average price of $67.07 and a 200 day moving average price of $66.61. The Coca-Cola Company has a 52 week low of $57.47 and a 52 week high of $73.53. The stock has a market capitalization of $276.04 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 3.89 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business 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 company earned $0.74 EPS. The company’s quarterly revenue was down .8% on a year-over-year basis. Equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

Coca-Cola 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.