Polymer Capital Management HK LTD Invests $230,000 in The Coca-Cola Company (NYSE:KO)

Polymer Capital Management HK LTD purchased a new position in The Coca-Cola Company (NYSE:KO) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,200 shares of the company’s stock, valued at approximately $230,000.

Other large investors have also bought and sold shares of the company. Morse Asset Management Inc lifted its stake in shares of Coca-Cola by 25.0% in the third quarter. Morse Asset Management Inc now owns 17,500 shares of the company’s stock valued at $1,258,000 after buying an additional 3,500 shares in the last quarter. IHT Wealth Management LLC raised its position in Coca-Cola by 28.2% in the third quarter. IHT Wealth Management LLC now owns 88,754 shares of the company’s stock worth $6,370,000 after acquiring an additional 19,519 shares during the period. Investment Management Corp of Ontario raised its position in Coca-Cola by 95.9% in the third quarter. Investment Management Corp of Ontario now owns 403,787 shares of the company’s stock worth $29,016,000 after acquiring an additional 197,635 shares during the period. Itau Unibanco Holding S.A. raised its position in Coca-Cola by 15.7% in the third quarter. Itau Unibanco Holding S.A. now owns 37,798 shares of the company’s stock worth $2,716,000 after acquiring an additional 5,126 shares during the period. Finally, Harmony Asset Management LLC increased its stake in shares of Coca-Cola by 1.0% in the third quarter. Harmony Asset Management LLC now owns 19,183 shares of the company’s stock worth $1,378,000 after purchasing an additional 199 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

KO opened at $62.21 on Thursday. The Coca-Cola Company has a 52-week low of $57.47 and a 52-week high of $73.53. 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 company has a market cap of $267.99 billion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61. The firm’s 50-day moving average price is $66.57 and its 200-day moving average price is $66.58.

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

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.12%. 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 stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on KO. Barclays reduced their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company cut their price target on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday. Truist Financial boosted 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. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $72.14.

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.