The Coca-Cola Company (NYSE:KO) Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 212,417 shares of the company’s stock after purchasing an additional 1,813 shares during the period. Metis Global Partners LLC’s holdings in Coca-Cola were worth $15,264,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of KO. New Millennium Group LLC purchased a new stake in Coca-Cola during the second quarter valued at about $26,000. Quarry LP purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at approximately $27,000. ESL Trust Services LLC acquired a new position in Coca-Cola in the 1st quarter worth approximately $28,000. Hara Capital LLC purchased a new position in Coca-Cola during the 3rd quarter worth approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola during the 3rd quarter worth approximately $36,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on KO shares. Wells Fargo & Company raised 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. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Barclays cut their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Royal Bank of Canada lifted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, TD Cowen upped their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Four 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 company. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $72.36.

Insiders Place Their Bets

In other news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Lisa Chang sold 40,334 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the transaction, the executive vice president now directly owns 74,067 shares in the company, valued at $5,150,619.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 303,748 shares of company stock valued at $20,677,431 in the last three months. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $63.19 on Thursday. The business’s 50-day simple moving average is $68.99 and its 200-day simple moving average is $66.51. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a 52 week low of $56.70 and a 52 week high of $73.53. The firm has a market cap of $272.21 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 3.84 and a beta of 0.61.

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

Coca-Cola Dividend Announcement

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 issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) 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.