Decatur Capital Management Inc. Invests $3.40 Million in The Coca-Cola Company (NYSE:KO)

Decatur Capital Management Inc. acquired a new stake in The Coca-Cola Company (NYSE:KO) during the third quarter, HoldingsChannel reports. The fund acquired 47,247 shares of the company’s stock, valued at approximately $3,395,000. Coca-Cola makes up about 1.6% of Decatur Capital Management Inc.’s holdings, making the stock its 16th largest holding.

Several other institutional investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB lifted its holdings in shares of Coca-Cola by 222.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company’s stock valued at $13,814,000 after buying an additional 132,701 shares during the period. Arvest Bank Trust Division acquired a new stake in Coca-Cola in the third quarter valued at $349,000. World Investment Advisors LLC boosted its position in shares of Coca-Cola by 42.7% during the 3rd quarter. World Investment Advisors LLC now owns 54,660 shares of the company’s stock worth $3,928,000 after purchasing an additional 16,343 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Coca-Cola by 42.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 530,953 shares of the company’s stock worth $38,154,000 after purchasing an additional 158,309 shares during the period. Finally, Wealthquest Corp purchased a new position in shares of Coca-Cola in the 3rd quarter valued at about $412,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

Shares of KO opened at $63.84 on Friday. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53. The company’s 50 day simple moving average is $65.55 and its 200 day simple moving average is $66.57. The company has a market capitalization of $275.01 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 3.81 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results 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. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. 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 prior year, the company posted $0.74 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. On average, sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.04%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insider Transactions at Coca-Cola

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 value of $6,403,000.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on KO. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Wells Fargo & Company lowered their price target on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, December 2nd. Morgan Stanley dropped their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

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.