Frisch Financial Group Inc. Purchases 625 Shares of The Coca-Cola Company (NYSE:KO)

Frisch Financial Group Inc. raised its position in The Coca-Cola Company (NYSE:KO) by 11.3% in the 3rd quarter, Holdings Channel reports. The firm owned 6,133 shares of the company’s stock after buying an additional 625 shares during the quarter. Frisch Financial Group Inc.’s holdings in Coca-Cola were worth $443,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. New Millennium Group LLC bought a new stake in Coca-Cola during the second quarter valued at $26,000. Quarry LP purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at about $27,000. Hara Capital LLC bought a new stake in shares of Coca-Cola during the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola during the 3rd quarter valued at about $36,000. Finally, Mount Lucas Management LP purchased a new position in shares of Coca-Cola during the second quarter worth about $38,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were 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 in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KO. Morgan Stanley lowered their target price 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. Truist Financial lifted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays reduced their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company cut their price objective on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.14.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $62.63 on Tuesday. The stock has a market capitalization of $269.80 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 3.80 and a beta of 0.61. 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 current ratio of 1.06 and a quick ratio of 0.90. The business’s 50 day simple moving average is $66.03 and its two-hundred day simple moving average is $66.61.

Coca-Cola (NYSE:KO) last issued its 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. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 earnings per share. Analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed 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 3.10%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s 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.